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Bankruptcy Trustees in Bankruptcy Insolvency Reform | ||
Insolvency ReformBill C-55 receives Royal Assent BILL C-55 (R.S.C. 2005, c. 47) In 1997, amendments to section 216 of the the Bankruptcy and Insolvency Act (BIA) and section 22 of the Companies' Creditors Arrangement Act (CCAA) included a provision that both Acts would be referred to a Committee of Parliament for review, five years after coming into force. The Senate Committee on Banking and Commerce commenced its Hearings on the Operation and Administration of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act on May 7, 2003. At the outset, the Committee declared its intention to extend its mandate to December 15, 2003. The hearings are expected to continue through the summer and the Committee will publish its report in early 2004. On November 4, 2003, within the framework of the Parliamentary review, the Standing Senate Committee on Banking, Trade and Commerce released a report entitled: Debtors and Creditors Sharing the Burden: a Review of the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act. Note: to read PDF documents, you need Adobe Acrobat Reader on your system. PITF Final Report |
Created: 2005-05-29 Updated: 2006-01-16 |
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