Insolvency of individuals and corporations is a reality of life. Societies need mechanisms to deal with such insolvencies-either by rehabilitating/restructuring the debtor or equitably distributing the debtor’s assets to its creditors.
This course will deal with the various insolvency regimes in Canada designed to address these insolvencies. This course is particularly relevant given present economic shocks to the financial system such as tariffs, international conflicts affecting supply chains and increasing inflation.
This course will take a practical approach to reviewing the principal insolvency and restructuring regimes in Canadian law – bankruptcies, receiverships and restructurings 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 as workers, retirees, suppliers, pensioners, landlords, secured creditors and government entities.
This course emphasizes a practitioners approach to the topic. The goal is for students to be able to identify insolvency issues and to understand the process of dealing with these issues.
Method of Evaluation: Examination (100%). Students may also opt to write an optional paper (5,000 words), worth 40% of their overall final grade (on a topic and schedule to be approved by the instructor). Exams for students electing this 40% paper option will be worth 60% of their overall final grade.