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A closed restaurant in Gananoque, Ontario
Commercial insolvency in Canada has options and procedures that are distinct from those available in consumer insolvency proceedings. It is governed by the following statutes:
The Bankruptcy and Insolvency Act ("BIA")[1]
The Companies' Creditors Arrangement Act ("CCAA")[2]
The Winding-Up and Restructuring Act[3]
The following discussion concentrates on insolvency as it applies to corporations, but the rules apply to individuals and other entities involved in commercial matters as well, with necessary modifications.
^"Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3)". Retrieved 2011-08-25.
^"Companies' Creditors Arrangement Act (R.S.C., 1985, c. C-36)". Retrieved 2011-08-25.
^"Winding-up and Restructuring Act (R.S.C., 1985, c. W-11)". Retrieved 2011-08-25.
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