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ARTICLE · 28 SEPTEMBER 2011

Distinctions With A Difference: Comparison Of Restructurings Under The CCAA With Chapter 11 Law And Practice

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In Canada legislative authority is divided between the federal and provincial governments by subject matter.

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In Canada legislative authority is divided between the federal and provincial governments by subject matter. "Bankruptcy and insolvency" is a matter of federal jurisdiction, while "property and civil rights" is generally within the jurisdiction of the provinces.

Federal statutes for the most part deal with the allocation of a debtor's property and assets in circumstances of insolvency. Federal laws also create statutory super priorities, deemed trusts and liens relating to employee remittances for income taxes, employment insurance and the Canada Pension Plan that may impact on the debtor's property and secured creditor rights in relation to both federal and provincial businesses.

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