Insolvency proceedings in Canada have expanded well beyond the familiar model of a debtor seeking time to negotiate with its creditors. Courts now accept the Companies’ Creditors Arrangement Act (CCAA) as a framework for orderly liquidations and business sales. Creditor-led CCAA proceedings are also on the rise. Together, these trends have blurred the lines between restructuring and creditor enforcement.
In an article published in Lexpert’s Legal Insights, our partner Rémi Leprévost examines these developments through the lens of two recent Québec insolvency proceedings, highlighting the key lessons they offer.
Read the full article here