GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bankruptcy and Insolvency Act — B-3
foreign main proceeding means a foreign proceeding in a jurisdiction where the debtor has the centre of the debtor’s main interests. ( principale )
Bankruptcy and Insolvency Act — B-3
foreign non-main proceeding means a foreign proceeding, other than a foreign main proceeding. ( secondaire )
Bankruptcy and Insolvency Act — B-3
foreign proceeding means a judicial or an administrative proceeding, including an interim proceeding, in a jurisdiction outside Canada dealing with creditor’s collective interests generally under any law relating to bankruptcy or insolvency in which a debtor’s property and affairs are subject to control or supervision by a foreign court for the purpose of reorganization or liquidation. ( instances étrangères )
Bankruptcy and Insolvency Act — B-3 (a)
foreign representative means a person or body, including one appointed on an interim basis, who is authorized, in a foreign proceeding in respect of a debtor, to (a) administer the debtor’s property or affairs for the purpose of reorganization or liquidation; or (b) act as a representative in respect of the foreign proceeding. ( représentant étranger )
Bankruptcy and Insolvency Act — B-3 269
Application for recognition of a foreign proceeding 269 (1) A foreign representative may apply to the court for recognition of the foreign proceeding in respect of which he or she is a foreign representative. Documents that must accompany application (2) Subject to subsection (3), the application must be accompanied by (a) a certified copy of the instrument, however designated, that commenced the foreign proceeding or a certificate from the foreign court affirming the existence of the foreign proceeding; (b) a certified copy of the instrument, however designated, authorizing the foreign representative to act in that capacity or a certificate from the foreign court affirming the foreign representative’s authority to act in that capacity; and (c) a statement identifying all foreign proceedings in respect of the debtor that are known to the foreign representative. Documents may be considered as proof (3) The court may, without further proof, accept the documents referred to in paragraphs (2)(a) and (b) as evidence that the proceeding to which they relate is a foreign proceeding and that the applicant is a foreign representative in respect of the foreign proceeding. Other evidence (4) In the absence of the documents referred to in paragraphs (2)(a) and (b), the court may accept any other evidence of the existence of the foreign proceeding and of the foreign representative’s authority that it considers appropriate. Translation (5) The court may require a translation of any document accompanying the application. 1997, c. 12, s. 118; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 270
Order recognizing foreign proceeding 270 (1) If the court is satisfied that the application for the recognition of a foreign proceeding relates to a foreign proceeding and that the applicant is a foreign representative in respect of that foreign proceeding, the court shall make an order recognizing the foreign proceeding. Nature of foreign proceeding to be specified (2) The court shall specify in the order whether the foreign proceeding is a foreign main proceeding or a foreign non-main proceeding. 1997, c. 12, s. 118; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 271
Effects of recognition of a foreign main proceeding 271 (1) Subject to subsections (2) to (4), on the making of an order recognizing a foreign proceeding that is specified to be a foreign main proceeding, (a) no person shall commence or continue any action, execution or other proceedings concerning the debtor’s property, debts, liabilities or obligations; (b) if the debtor carries on a business, the debtor shall not, outside the ordinary course of the business, sell or otherwise dispose of any of the debtor’s property in Canada that relates to the business and shall not sell or otherwise dispose of any other property of the debtor in Canada; and (c) if the debtor is an individual, the debtor shall not sell or otherwise dispose of any property of the debtor in Canada. When subsection (1) does not apply (2) Subsection (1) does not apply if any proceedings under this Act have been commenced in respect of the debtor at the time the order recognizing the foreign proceeding is made. Exceptions (3) The prohibitions in paragraphs (1)(a) and (b) are subject to the exceptions specified by the court in the order recognizing the foreign proceeding that would apply in Canada had the foreign proceeding taken place in Canada under this Act. Application of this and other Acts (4) Nothing in subsection (1) precludes the commencement or the continuation of proceedings under this Act, the Companies’ Creditors Arrangement Act or the Winding-up and Restructuring Act in respect of the debtor. 1997, c. 12, s. 118; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 272
Orders 272 (1) If an order recognizing a foreign proceeding is made, the court may, on application by the foreign representative who applied for the order, if the court is satisfied that it is necessary for the protection of the debtor’s property or the interests of a creditor or creditors, make any order that it considers appropriate, including an order (a) if the foreign proceeding is a foreign non-main proceeding, imposing the prohibitions referred to in paragraphs 271(1)(a) to (c) and specifying the exceptions to those prohibitions, taking subsection 271(3) into account; (b) respecting the examination of witnesses, the taking of evidence or the delivery of information concerning the debtor’s property, affairs, debts, liabilities and obligations; (c) entrusting the administration or realization of all or part of the debtor’s property located in Canada to the foreign representative or to any other person designated by the court; and (d) appointing a trustee as receiver of all or any part of the debtor’s property in Canada, for any term that the court considers appropriate and directing the receiver to do all or any of the following, namely, (i) to take possession of all or part of the debtor’s property specified in the appointment and to exercise the control over the property and over the debtor’s business that the court considers appropriate, and (ii) to take any other action that the court considers appropriate. Restriction (2) If any proceedings under this Act have been commenced in respect of the debtor at the time an order recognizing the foreign proceeding is made, an order made under subsection (1) must be consistent with any order that may be made in any proceedings under this Act. Application of this and other Acts (3) The making of an order under paragraph (1)(a) does not preclude the commencement or the continuation of proceedings under this Act, the Companies’ Creditors Arrangement Act or the Winding-up and Restructuring Act in respect of the debtor. 1997, c. 12, s. 118; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 273
Terms and conditions of orders 273 An order under this Part may be made on any terms and conditions that the court considers appropriate in the circumstances. 1997, c. 12, s. 118; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 274
Commencement or continuation of proceedings 274 If an order recognizing a foreign proceeding is made, the foreign representative may commence or continue any proceedings under sections 43, 46 to 47.1 and 49 and subsections 50(1) and 50.4(1) in respect of a debtor as if the foreign representative were a creditor of the debtor, or the debtor, as the case may be. 1997, c. 12, s. 118; 2004, c. 25, s. 103; 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 275
Cooperation — court 275 (1) If an order recognizing a foreign proceeding is made, the court shall cooperate, to the maximum extent possible, with the foreign representative and the foreign court involved in the foreign proceeding. Cooperation — other authorities in Canada (2) If any proceedings under this Act have been commenced in respect of a debtor and an order recognizing a foreign proceeding is made in respect of the debtor, every person who exercises any powers or performs duties and functions in any proceedings under this Act shall cooperate, to the maximum extent possible, with the foreign representative and the foreign court involved in the foreign proceeding. Forms of cooperation (3) For the purpose of this section, cooperation may be provided by any appropriate means, including (a) the appointment of a person to act at the direction of the court; (b) the communication of information by any means considered appropriate by the court; (c) the coordination of the administration and supervision of the debtor’s assets and affairs; (d) the approval or implementation by courts of agreements concerning the coordination of proceedings; and (e) the coordination of concurrent proceedings regarding the same debtor. 1997, c. 12, s. 118; 2005, c. 47, s. 122; 2007, c. 36, s. 59
Bankruptcy and Insolvency Act — B-3 276
Obligations of foreign representative 276 If an order recognizing a foreign proceeding is made, the foreign representative who applied for the order shall (a) without delay, inform the court of (i) any substantial change in the status of the recognized foreign proceeding, (ii) any substantial change in the status of the foreign representative’s authority to act in that capacity, and (iii) any other foreign proceeding in respect of the same debtor that becomes known to the foreign representative; and (b) publish, without delay after the order is made, once a week for two consecutive weeks, or as otherwise directed by the court, in one or more newspapers in Canada specified by the court, a notice containing the prescribed information. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 277
Concurrent proceedings 277 If any proceedings under this Act in respect of a debtor are commenced at any time after an order recognizing the foreign proceeding is made, (a) the court shall review any order made under section 272 and, if it determines that the order is inconsistent with any orders made in the proceedings under this Act, the court shall amend or revoke the order; and (b) if the foreign proceeding is a foreign main proceeding, the court shall make an order terminating the application of the prohibitions in paragraphs 271(1)(a) to (c) if the court determines that those prohibitions are inconsistent with any similar prohibitions imposed in the proceedings under this Act. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 278
Multiple foreign proceedings 278 (1) If, at any time after an order is made in respect of a foreign non-main proceeding in respect of a debtor, an order recognizing a foreign main proceeding is made in respect of the debtor, the court shall review any order made under section 272 in respect of the foreign non-main proceeding and, if it determines that the order is inconsistent with any orders made under that section in respect of the foreign main proceedings, the court shall amend or revoke the order. Multiple foreign proceedings (2) If, at any time after an order is made in respect of a foreign non-main proceeding in respect of the debtor, an order recognizing another foreign non-main proceeding is made in respect of the debtor, the court shall, for the purpose of facilitating the coordination of the foreign non-main proceedings, review any order made under section 272 in respect of the first recognized proceeding and amend or revoke that order if it considers it appropriate. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 279
Authorization to act as representative of proceeding under this Act 279 The court may authorize any person or body to act as a representative in respect of any proceeding under this Act for the purpose of having them recognized in a jurisdiction outside Canada. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 280
Foreign representative status 280 An application by a foreign representative for any order under this Part does not submit the foreign representative to the jurisdiction of the court for any other purpose except with regard to the costs of the proceedings, but the court may make any order under this Part conditional on the compliance by the foreign representative with any other court order. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 281
Foreign proceeding appeal 281 A foreign representative is not prevented from making an application to the court under this Part by reason only that proceedings by way of appeal or review have been taken in a foreign proceeding, and the court may, on an application if such proceedings have been taken, grant relief as if the proceedings had not been taken. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 282
Presumption of insolvency 282 For the purposes of this Part, if a bankruptcy, an insolvency or a reorganization or a similar order has been made in respect of a debtor in a foreign proceeding, a certified copy of the order is, in the absence of evidence to the contrary, proof that the debtor is insolvent and proof of the appointment of the foreign representative made by the order. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 283
Credit for recovery in other jurisdictions 283 (1) If a bankruptcy order, a proposal or an assignment is made in respect of a debtor under this Act, the following shall be taken into account in the distribution of dividends to the debtor’s creditors in Canada as if they were a part of that distribution: (a) the amount that a creditor receives or is entitled to receive outside Canada by way of a dividend in a foreign proceeding in respect of the debtor; and (b) the value of any property of the debtor that the creditor acquires outside Canada on account of a provable claim of the creditor or that the creditor acquires outside Canada by way of a transfer that, if the transfer were subject to this Act, would be a preference over other creditors or a transfer at undervalue. Restriction (2) Despite subsection (1), the creditor is not entitled to receive a dividend from the distribution in Canada until every other creditor who has a claim of equal rank in the order of priority established under this Act has received a dividend whose amount is the same percentage of that other creditor’s claim as the aggregate of the amount referred to in paragraph (1)(a) and the value referred to in paragraph (1)(b) is of that creditor’s claim. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 284
Court not prevented from applying certain rules 284 (1) Nothing in this Part prevents the court, on the application of a foreign representative or any other interested person, from applying any legal or equitable rules governing the recognition of foreign insolvency orders and assistance to foreign representatives that are not inconsistent with the provisions of this Act. Public policy exception (2) Nothing in this Part prevents the court from refusing to do something that would be contrary to public policy. 2005, c. 47, s. 122; 2007, c. 36, s. 60
Bankruptcy and Insolvency Act — B-3 285
Review of Act 285 (1) Within five years after the coming into force of this section, the Minister shall cause to be laid before both Houses of Parliament a report on the provisions and operation of this Act, including any recommendations for amendments to those provisions. Reference to parliamentary committee (2) The report stands referred to the committee of the Senate, the House of Commons or both Houses of Parliament that is designated or established for that purpose, which shall (a) as soon as possible after the laying of the report, review the report; and (b) report to the Senate, the House of Commons or both Houses of Parliament, as the case may be, within one year after the laying of the Minister’s report, or any further time authorized by the Senate, the House of Commons or both Houses of Parliament. 2005, c. 47, s. 122
Bankruptcy and Insolvency Act — B-3 11
Transitional: proceedings 11 Proceedings to which any of the provisions amended by the schedule apply that were commenced before the coming into force of section 10 shall be continued in accordance with those amended provisions without any further formality.
Bankruptcy and Insolvency Act — B-3 45
Transitional: proceedings 45 (1) Every proceeding commenced before the coming into force of this subsection and in respect of which any provision amended by this Act applies shall be taken up and continued under and in conformity with that amended provision without any further formality.
Bankruptcy and Insolvency Act — B-3
(2) Where, before the coming into force of this section, the Superintendent had communicated in writing to a licensee the Superintendent’s intention to make a report to the Minister in respect of that licensee under section 7 of the Bankruptcy Act , as that section read immediately before the coming into force of section 6 of this Act, then (a) the following provisions of the Bankruptcy Act continue to apply, in so far as they relate to the investigation of that licensee pursuant to section 7 of that Act: (i) sections 7 and 8, as those sections read immediately before the coming into force of section 6 of this Act, and (ii) subsections 14(2) and (3), as those subsections read immediately before the coming into force of this section; and (b) to the extent that the provisions of the Bankruptcy Act referred to in paragraph (a) continue to apply, sections 14.01 to 14.03 of the Bankruptcy and Insolvency Act , as enacted by subsection (1) of this section, do not apply.
Bankruptcy and Insolvency Act — B-3
(3) Where (a) by virtue of subsection (2), subsection 14(2) of the Bankruptcy Act continues to apply, and (b) the hearing to which the licensee is entitled under subsection 14(2) had not begun at the coming into force of this section, the Minister may delegate the Minister’s powers, duties and functions under subsection 14(2) to any person other than the Superintendent, by written instrument, on such terms and conditions as are therein specified.
Bankruptcy and Insolvency Act — B-3
(2) Section 47 of the Bankruptcy Act , as that section read immediately before the coming into force of subsection (1), continues to apply in relation to proposals filed before the coming into force of that subsection.
Bankruptcy and Insolvency Act — B-3
(3) Sections 47 to 47.2 of the Bankruptcy and Insolvency Act , as enacted by subsection (1), do not apply to interim receivers appointed before the coming into force of those sections.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Part III of the Bankruptcy Act , as that Part read immediately before the coming into force of this subsection, continues to apply in relation to proposals filed before the coming into force of this subsection.
Bankruptcy and Insolvency Act — B-3
(2) Section 68.1 of the Bankruptcy and Insolvency Act , as enacted by subsection (1), only applies to debtors who become bankrupt after the coming into force of that section.
Bankruptcy and Insolvency Act — B-3
(2) Section 69 of the Bankruptcy Act , as that section read immediately before the coming into force of this subsection, continues to apply in relation to proposals filed, or bankruptcies occurring, before the coming into force of this subsection.
Bankruptcy and Insolvency Act — B-3
(2) Sections 81.1 and 81.2 of the Bankruptcy and Insolvency Act , as enacted by subsection (1), apply only in relation to goods and products delivered after the coming into force of those sections.
Bankruptcy and Insolvency Act — B-3
(2) Section 101.2 of the Bankruptcy and Insolvency Act , as enacted by subsection (1), only applies to debtors who become bankrupt after the coming into force of that section.
Bankruptcy and Insolvency Act — B-3
(2) Subsection 121(1) of the Bankruptcy and Insolvency Act , as enacted by subsection (1), only applies to bankrupts who become bankrupt after the coming into force of that subsection.
Bankruptcy and Insolvency Act — B-3
(3) Paragraph 136(1)(d) of the Bankruptcy Act , as that paragraph read immediately before the coming into force of subsection (1) of this section, continues to apply in relation to bankruptcies occurring before the coming into force of that subsection.
Bankruptcy and Insolvency Act — B-3
(2) Section 168.1 of the Bankruptcy and Insolvency Act , as enacted by subsection (1), applies to an individual who became bankrupt before the coming into force of that section only in a case where no application for a discharge hearing was made under subsection 169(2) or (3) before the coming into force of section 168.1.
Bankruptcy and Insolvency Act — B-3
(3) Where, by virtue of subsection (2), section 168.1 of the Bankruptcy and Insolvency Act applies to an individual who became bankrupt more than seven months before the coming into force of that section, then (a) the words “eight month period immediately following the date on which a receiving order is made against, or an assignment is made by, the individual bankrupt” in paragraph 168.1(1)(a) shall be read as “one month period immediately following the coming into force of this section”; (b) the words “nine month period immediately following the bankruptcy” in paragraphs 168.1(1)(b), (c), (d) and (f) shall be read as “two month period immediately following the coming into force of this section”; (c) the word “nine” in subparagraphs 168.1(1)(f)(i) and (ii) shall be read as “two”; and (d) the words “nine month period immediately following the bankruptcy” in subsection 168.1(2) shall be read as “two month period immediately following the coming into force of this section”.
Bankruptcy and Insolvency Act — B-3
(2) Part XI of the Bankruptcy and Insolvency Act , as enacted by subsection (1), applies only in relation to persons who become receivers after the coming into force of this subsection.
Bankruptcy and Insolvency Act — B-3 92
Review 92 After the expiration of three years after this section comes into force, this Act shall stand referred to such committee of the House of Commons, of the Senate or of both Houses of Parliament as may be designated or established for that purpose and the committee shall, as soon as practicable thereafter, undertake a comprehensive review of the provisions and operation of this Act and shall, within one year after the review is undertaken or within such further time as the House of Commons may authorize, submit a report to Parliament thereon.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Subsection (1) applies to bankruptcies, proposals or receiverships in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Subsection (1) applies to bankruptcies in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Subsection (1) applies to proceedings under Part III that are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (3) Subsection (1) or (2) applies to proposals in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Subsection (1) applies to proposals in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (2) Subsection (1) applies to bankruptcies or proposals in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (3) Subsection (1) applies to bankruptcies or proposals in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (3) Subsection (2) applies to bankruptcies in respect of which proceedings are commenced after that subsection comes into force.
Bankruptcy and Insolvency Act — B-3 Application
Application (3) Subsection (1) or (2) applies to bankruptcies or proposals in respect of which proceedings are commenced after that subsection comes into force.