The lingering effect of Covid 19, supply chain challenges, war in Ukraine, inflation- the world is facing uncertain and challenging times. These challenges will effect financial stability of Canadian businesses and individuals. Some, no doubt, will become insolvent.How do we address the societal and practical consequences of these insolvencies?
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.
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.