Agricultural Law NetLetter - Monday, April 21, 2014 - Issue 298

** HIGHLIGHTS **

• The Saskatchewan Court of Appeal has held that the provisions of s. 243 of the Bankruptcy and Insolvency Act, which allows secured creditors to apply to the Court to appoint a receiver, are paramount and prevail over the provisions of the Saskatchewan Farm Security Act which, among other things, require leave of the Court before an action can be commenced with respect to a mortgage. The Court also held that the powers granted to a receiver under s. 243 could include the power to obtain a vesting order in connection with a Court-supervised sale of assets. The Court reviews, in depth, the broad range of considerations that bear on the issue of whether it is "just and convenient" to appoint a receiver, and ultimately held that notwithstanding the Court's errors, it was not just and convenient to grant a receivership order in the circumstances. [Editor's Note: This decision could have important implications with respect to the remedies available to