Monique Sassi and Jeremy Bornstein have authored the article “Amendments to the BIA and CCAA: Changes in Effect as of November 1, 2019,” published by Rebuilding Success, the official magazine for the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).
This article looks at upcoming changes to the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA), the reasons for these changes and a summary of amendments, including:
- Updates to the Initial Stay under the CCAA
- Disclosure of Interested Persons’ “Economic Interest” in CCAA Proceedings
- Statutory Duty of Good Faith in BIA and CCAA Proceedings
- Broader “Look-Back” Provisions in BIA and CCAA Proceedings
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