Bankruptcy & Insolvency Law

Quick Info
(2430.04)  Course
A. Kauffman; Adjunct Professor
4 credit(s)  4 hour(s);
Lecture, discussion
Upper Year Research & Writing Requirement

The Covid-19 pandemic has shone a brilliant light on the crucial societal need for, and importance of, insolvency laws in Canada.  The recent meltdown of entire economic sectors, such as the retail, hospitality and air transportation industries, as examples, has led to widespread business failures – with tragic societal and individual consequences.

Bankruptcy and insolvency laws provide a framework for restructuring or liquidating insolvent businesses or rehabilitating insolvent individuals.

This course will take a practical approach to reviewing the principal insolvency and restructuring regimes in Canadian law – bankruptcies, receiverships and restructuring under the Companies’ Creditors Arrangement Act or the proposal provisions of the Bankruptcy and Insolvency Act.  In addition to learning the substantive and procedural rules with respect to each regime, we will consider the practical implications of insolvencies with respect to various stakeholders such a workers, retirees, pensioners, landlords and governments.

This course combines an analysis of the relevant statutory material and case law with an understanding of the policy choices in insolvencies, as well as the different roles which an insolvency system may play in contemporary society.