Top 5 Key Takeaways From "A Panel Discussion About The CCAA"

On June 17, 2021, McCarthy Tétrault virtually hosted A Panel Discussion about the CCAA with Partners Heather Meredith, Jacques Rousse, and Awanish Sinha. The discussion focused on the Companies' Creditors Arrangement Act ("CCAA"), reasons why organizations use the CCAA, and particular insights about the Laurentian University CCAA proceeding.

The following are some key takeaways from the panel:

1. The CCAA is a federal statute that prioritizes restructuring a company and avoiding the social and economic costs of liquidating a business. It has numerous tools, like a stay of proceedings and interim financing charges as well as the potential to disclaim or assign contracts, that can facilitate the restructuring of a company in financial distress.