Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 OCTOBER 2021

Chapter 11 And CCAA - A Cross-Border Comparison

Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Contributor
Blake, Cassels & Graydon LLP

Blake, Cassels & Graydon LLP

As one of Canada’s top business law firms, Blake, Cassels & Graydon LLP (Blakes) provides...

View firm profile
Explore more from Blake, Cassels & Graydon LLP

A Comparison of the Key Differences Between Chapter 11 of the U.S. Bankruptcy Code and the Companies' Creditors Arrangement Act.

CanadaInsolvency/Bankruptcy/Re-Structuring
Pamela Huff
Pamela Huff
Linc Rogers
Linc Rogers
Milly Chow
Milly Chow
Christopher Burr
Christopher Burr
Bernard Boucher
Bernard Boucher
Sébastien Guy
Sébastien Guy
Peter Rubin
Peter Rubin
Peter Bychawski
Peter Bychawski
Kelly Bourassa
Kelly Bourassa
Author LinkedIn connections

A Cross-Border Comparison

A Comparison of the Key Differences Between Chapter 11 of the U.S. Bankruptcy Code and the Companies' Creditors Arrangement Act.

Chapter 11

Concept

CCAA Equivalent

A debtor need not be "insolvent" to file a voluntary Chapter 11 petition.

Insolvency Prerequisite

A debtor may make a voluntary application for relief under the Companies' Creditors Arrangement Act (CCAA) and, to be granted such relief, the debtor must, among other things:

  1. be "insolvent" or committed an "act of bankruptcy" as defined in the Bankruptcy and Insolvency Act
  2. have in excess of C$5-million in liabilities (or in the case of a corporate group, have in excess of C$5-million in the aggregate); or

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

For permission to reprint articles, please contact the [email protected] Marketing Department.

© 2026 Blake, Cassels & Graydon LLP.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Restructuring Before Insolvency: What Ravelin Means For Distressed Public Companies

A publicly listed REIT successfully restructured approximately $1 billion in defaulted debt through a CBCA plan of arrangement without filing for CCAA protection, demonstrating how corporate law mechanisms can serve as practical alternatives to formal insolvency proceedings. The Ontario Superior Court's decision in Re Ravelin Properties REIT also clarified that confidential restructuring negotiations do not necessarily trigger material change disclosure obligations for public companies.
CanadaInsolvency/Bankruptcy/Re-Structuring
Miller Thomson
Miller Thomson
Article

Canada Imposes Counter-Tariffs On C$27.6-Billion Of U.S. Imports, Effective September 8, 2026

Canada has announced C$27.6-billion in counter-tariffs on U.S. imports, effective September 8, 2026, targeting over 700 product classifications across steel, aluminum, dairy, electronics, and other sectors. The measures represent a dollar-for-dollar response to U.S. Section 338 tariffs, with rates ranging from 15% to 50% depending on the product category. The government has also introduced a C$7.5-billion support package for affected Canadian workers and businesses.
CanadaInternational Law
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Manitoba Expanding Land Transfer Tax To Beneficial Transfers

Effective January 1, 2027, Manitoba is expanding its land transfer tax regime to apply to beneficial (unregistered) transfers of land, even where legal (registered) title is not being transferred. The amendments bring Manitoba’s regime more closely in line with Ontario’s and Quebec’s current regimes and will affect transactions involving bare trusts, nominees and other ownership structures that separate legal and beneficial ownership of land.
CanadaTax
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Digging Deeper: Canadian Mining Sector Tax Update

Canada’s mining sector is at an important inflection point. Against a backdrop of growing global demand for critical minerals and increased competition for investment capital, the Canadian federal government has recently introduced a series of tax measures designed to encourage investment and strengthen the competitiveness of Canada’s mining industry. For investors, these measures may meaningfully influence the after-tax economics of projects and financing structures across the mining value chain.
CanadaEnergy and Natural Resources
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Fall Forecast: What To Watch In Canada’s Communications Sector

Canada's broadcasting, telecommunications, and satellite industries face significant regulatory changes this fall as Parliament advances key legislation. From the CRTC's implementation of the Online Streaming Act amid U.S. trade tensions to new lawful access requirements for service providers and the establishment of Canada's first space launch framework, these developments will reshape operational requirements across the communications sector.
CanadaMedia, Telecoms, IT, Entertainment
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Competition Bureau Reaches Consent Agreement With Empire Company Limited Regarding Grocery Property Controls

The Competition Bureau of Canada has entered into a consent agreement with Empire Company Limited, parent of major grocery chains including Sobeys and Safeway, restricting the company's use of property controls that limit competition. This agreement prohibits Empire from enforcing certain restrictive covenants and exclusivity clauses that prevent other grocers from operating nearby, despite Empire's earlier voluntary commitments. The Bureau's action signals heightened regulatory scrutiny of property control
CanadaAntitrust/Competition Law
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP
Article

Sweeping Changes In Store For Canada’s Defence Procurement Regime

The Canadian federal government has introduced Bill C-40, transforming the Defence Investment Agency into an independent Crown corporation with expanded procurement powers and novel financial authorities. This legislative shift enables streamlined defence procurement, private capital integration, and broader non-competitive contracting capabilities while redefining national security supply chains.
CanadaGovernment, Public Sector
Blake, Cassels & Graydon LLP
Blake, Cassels & Graydon LLP