In receivership, an appointed third party acts on behalf of a secured creditor and is tasked with taking possession of the debtor's assets, selling them and using the proceeds to pay the secured debt.

The Supreme Court of British Columbia is the most recent court latest to find that a debtor's email can, in the appropriate circumstances, be sufficient to restart the two-year limitation period ...

In our last post, we discussed various acts that may be deemed as offences under the Bankruptcy and Insolvency Act (BIA).

Under section 70 of the Bankruptcy and Insolvency Act (BIA), when a debtor assigns into bankruptcy, or is adjudge a bankrupt by a court, and subject to the rights of secured creditors...

This article looks at how business owners can know whether their situation merits bankruptcy.

When an individual or business can no longer keep up with its debt obligations or satisfy its liabilities, it is considered "insolvent".

When a company faces insolvency or bankruptcy, the directors (and sometimes officers) of the company can face personal liability for the company's debts.

A debtor company seeking to reorganize its financial affairs has two powerful tools by which it can hold creditors at bay and stay collection proceedings while it formulates its reorganization plan.

Strata disputes can arise at any time. Conflicts can range anywhere from small matters about a bylaw dispute to larger matters such as owners suing their strata council...

Each province has its own laws governing issues related to property and commercial matters, but when insolvency or bankruptcy enter the scene, federal law becomes paramount.

Under the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA), companies in financial straits may seek a stay of proceedings...

Filing for bankruptcy is never an easy option for small business owners. The decision can feel like a personal failure and may leave one unsure about the future.

Canada's Farm Debt Mediation Act ("FDMA") regulates disputes between farmers and their creditors and mandates unique procedures for secured creditors seeking to enforce on their debts.

When a debtor is insolvent, recovery by a creditor will generally depend on the creditor's ranking.

When strata corporations face minor conflicts, or if an owner puts forward a complaint, the parties often draw first on informal ways to resolve the problem.

Several months ago, we provided a summary of the bankruptcy process.

When a company's decisions are unfair or prejudicial to certain shareholders, those shareholders may be able to get relief by using the "oppression" remedies available under the British Columbia Business Corporations Act.

The fruits of a business owner's lifetime of hard work can vanish almost instantly with the insolvency of a company.

Up until last year, strata corporations and owners had the option of resolving disputes through internal methods or arbitration.

Among dispute resolution options involving strata properties, going to court is an available mechanism.