GreatNorthCollective/greatnorth-canada-federal-laws-text huggingface dataset:
Bankruptcy and Insolvency Act — B-3 74
Registration of bankruptcy order or assignment 74 (1) Every bankruptcy order, or a true copy certified by the registrar or other officer of the court that made it, and every assignment, or a true copy certified by the official receiver, may be registered by or on behalf of the trustee in respect of the whole or any part of any real property in which the bankrupt has any interest or estate, or in respect of the whole or any part of any immovable in which the bankrupt has any right, in the registry office in which, according to the law of the province in which the real property or immovable is situated, deeds or transfers of title and other documents relating to real property, an immovable or any interest or estate in real property or any right in an immovable may be registered. Effect of registration (2) If a bankrupt is the registered owner of any real property or immovable or the registered holder of any charge, the trustee, on registration of the documents referred to in subsection (1), is entitled to be registered as owner of the real property or immovable or holder of the charge free of all encumbrances or charges mentioned in subsection 70(1). Caveat may be filed (3) If a bankrupt owns any real property or immovable or holds any charge registered in a land registry office or has or is believed to have any interest, estate or right in any of them, and for any reason a copy of the bankruptcy order or assignment has not been registered as provided in subsection (1), a caveat or caution may be filed with the official in charge of the land registry by the trustee, and any registration made after the filing of the caveat or caution in respect of the real property, immovable or charge is subject to the caveat or caution unless it has been removed or cancelled under the provisions of the Act under which the real property, immovable, charge, interest, estate or right is registered. Duty of official (4) Every official to whom a trustee tenders or causes to be tendered for registration any bankruptcy order, assignment or other document shall register it according to the ordinary procedure for registering within the official’s office documents relating to real property or immovables. R.S., 1985, c. B-3, s. 74; 1997, c. 12, s. 70; 2004, c. 25, s. 47; 2005, c. 47, s. 64(E)
Bankruptcy and Insolvency Act — B-3 75
Law of province to apply in favour of purchaser for value 75 Despite anything in this Act, a deed, transfer, agreement for sale, mortgage, charge or hypothec made to or in favour of a bona fide purchaser, mortgagee or hypothecary creditor for adequate valuable consideration and covering any real property or immovable affected by a bankruptcy order or an assignment under this Act is valid and effectual according to the tenor of the deed, transfer, agreement for sale, mortgage, charge or hypothec and according to the laws of the province in which the property is situated as fully and effectually and to all intents and purposes as if no bankruptcy order or assignment had been made under this Act, unless the bankruptcy order or assignment, or notice of the order or assignment, or caution, has been registered against the property in the proper office prior to the registration of the deed, transfer, agreement for sale, mortgage, charge or hypothec in accordance with the laws of the province in which the property is situated. R.S., 1985, c. B-3, s. 75; 2001, c. 4, s. 28(F); 2004, c. 25, s. 47
Bankruptcy and Insolvency Act — B-3 76
Property not to be removed from province 76 No property of a bankrupt shall be removed out of the province in which the property was at the date when the bankruptcy order or assignment was made, without the permission of the inspectors or an order of the court in which proceedings under this Act are being carried on or within the jurisdiction in which the property is situated. R.S., 1985, c. B-3, s. 76; 2004, c. 25, s. 47
Bankruptcy and Insolvency Act — B-3 77
Contributory shareholders 77 (1) Every shareholder or member of a bankrupt corporation is liable to contribute the amount unpaid on his shares of the capital or on his liability to the corporation, its members or creditors, as the case may be, under the Act, charter or instrument of incorporation of the company or otherwise. Liability of contributory an asset (2) The amount that the contributory is liable to contribute under subsection (1) shall be deemed an asset of the corporation and a debt payable to the trustee forthwith on the bankruptcy of the corporation. R.S., 1985, c. B-3, s. 77; 1999, c. 31, s. 22(F)
Bankruptcy and Insolvency Act — B-3 78
Bank must notify trustee 78 Where a banker has ascertained that a person having an account with the banker is an undischarged bankrupt, it is his duty forthwith to inform the trustee of the existence of the account, and thereafter the banker shall not make any payments out of the account, except under an order of the court or in accordance with instructions from the trustee, unless on the expiration of one month from the date of giving the information no instructions have been received from the trustee. R.S., c. B-3, s. 56
Bankruptcy and Insolvency Act — B-3 79
Inspection of property held in pledge 79 Where property of a bankrupt is held as a pledge, hypothec, pawn or other security, the trustee may give notice in writing of the trustee’s intention to inspect the property, and the person so notified is not thereafter entitled to realize the security until the person has given the trustee a reasonable opportunity of inspecting the property and of exercising the trustee’s right of redemption. R.S., 1985, c. B-3, s. 79; 1997, c. 12, s. 71
Bankruptcy and Insolvency Act — B-3 80
Protection of trustee 80 If the trustee has seized or disposed of property in the possession or on the premises of a bankrupt without notice of any claim in respect of the property and after the seizure or disposal it is made to appear that the property, at the date of the bankruptcy, was not the property of the bankrupt or was subject to an unregistered security or charge, the trustee is not personally liable for any loss or damage arising from the seizure or disposal sustained by any person claiming the property, interest in property or, in the Province of Quebec, a right in property, or for the costs of proceedings taken to establish a claim to that property, interest or right, unless the court is of opinion that the trustee has been negligent with respect to the trustee’s duties in relation to the property. R.S., 1985, c. B-3, s. 80; 1997, c. 12, s. 71; 2004, c. 25, s. 48
Bankruptcy and Insolvency Act — B-3 81
Persons claiming property in possession of bankrupt 81 (1) Where a person claims any property, or interest therein, in the possession of a bankrupt at the time of the bankruptcy, he shall file with the trustee a proof of claim verified by affidavit giving the grounds on which the claim is based and sufficient particulars to enable the property to be identified. How claim disposed of (2) The trustee with whom a proof of claim is filed under subsection (1) shall within 15 days after the filing of the claim or within 15 days after the first meeting of creditors, whichever is the later, either admit the claim and deliver possession of the property to the claimant or send notice in the prescribed manner to the claimant that the claim is disputed, with the trustee’s reasons for disputing it, and, unless the claimant appeals the trustee’ decision to the court within 15 days after the sending of the notice of dispute, the claimant is deemed to have abandoned or relinquished all his or her right to or interest in the property to the trustee who may then sell or dispose of the property free of any right, title or interest of the claimant. Onus on claimant (3) The onus of establishing a claim to or in property under this section is on the claimant. Require proof of claim (4) The trustee may send notice in the prescribed manner to any person to prove his or her claim to or in property under this section, and, unless that person files with the trustee a proof of claim, in the prescribed form, within 15 days after the sending of the notice, the trustee may then, with the leave of the court, sell or dispose of the property free of any right, title or interest of that person. No other proceeding to be instituted (5) No proceedings shall be instituted to establish a claim to, or to recover any right or interest in, any property in the possession of a bankrupt at the time of the bankruptcy, except as provided in this section. Rights of others not extended (6) Nothing in this section shall be construed as extending the rights of any person other than the trustee. R.S., 1985, c. B-3, s. 81; 2005, c. 47, s. 65
Bankruptcy and Insolvency Act — B-3 81.1
her rights saved (9) Nothing in subsection (7) or (8) precludes a person from exercising any right that the person may have under subsection 34(1) or section 37. No payment (10) A supplier who repossesses goods pursuant to this section is not entitled to be paid for those goods. Provincial rights saved (11) Nothing in this section precludes a supplier from exercising any right that the supplier may have under the law of a province. Definitions (12) The following definitions apply in this section. person who is subject to a receivership means a person in respect of whom any property is under the possession or control of a receiver. ( mise sous séquestre ) receiver means a receiver within the meaning of subsection 243(2). ( séquestre ) 1992, c. 27, s. 38; 1999, c. 31, s. 23; 2005, c. 47, s. 66
Bankruptcy and Insolvency Act — B-3
person who is subject to a receivership means a person in respect of whom any property is under the possession or control of a receiver. ( mise sous séquestre )
Bankruptcy and Insolvency Act — B-3
receiver means a receiver within the meaning of subsection 243(2). ( séquestre )
Bankruptcy and Insolvency Act — B-3 81.2
e following terms as defined in subsection (2), namely, (a) “products of agriculture”, (b) “products of aquaculture”, and (c) “products of the sea, lakes and rivers”, comprises that thing in any form or state and any part thereof and any product or by-product thereof or derived therefrom. Section 81.1 applies (4) For greater certainty, “goods” in section 81.1 includes products of agriculture, products of the sea, lakes and rivers, and products of aquaculture. Other rights saved (5) Nothing in this section precludes a farmer, fisherman or aquaculturist from exercising (a) the right that that person may have under section 81.1 to repossess products of agriculture, products of the sea, lakes and rivers, or products of aquaculture; or (b) any right that that person may have under the law of a province. 1992, c. 27, s. 38; 1997, c. 12, s. 72(F); 2004, c. 25, s. 49
Bankruptcy and Insolvency Act — B-3
aquaculture means the cultivation of aquatic plants and animals; ( aquiculture )
Bankruptcy and Insolvency Act — B-3
aquaculture operation means any premises or site where aquaculture is carried out; ( exploitation aquicole )
Bankruptcy and Insolvency Act — B-3
aquaculturist includes the owner, occupier, lessor and lessee of an aquaculture operation; ( aquiculteur )
Bankruptcy and Insolvency Act — B-3
aquatic plants and animals means plants and animals that, at most stages of their development or life cycles, live in an aquatic environment; ( organismes animaux et végétaux aquatiques )
Bankruptcy and Insolvency Act — B-3
farm means land in Canada used for the purpose of farming, which term includes livestock raising, dairying, bee-keeping, fruit growing, the growing of trees and all tillage of the soil; ( ferme )
Bankruptcy and Insolvency Act — B-3
farmer includes the owner, occupier, lessor and lessee of a farm; ( agriculteur )
Bankruptcy and Insolvency Act — B-3
fish includes shellfish, crustaceans and marine animals; ( poisson )
Bankruptcy and Insolvency Act — B-3
fisherman means a person whose business consists in whole or in part of fishing; ( pêcheur )
Bankruptcy and Insolvency Act — B-3
fishing means fishing for or catching fish by any method; ( pêche )
Bankruptcy and Insolvency Act — B-3 (a)
products of agriculture includes (a) grain, hay, roots, vegetables, fruits, other crops and all other direct products of the soil, and (b) honey, livestock (whether alive or dead), dairy products, eggs and all other indirect products of the soil; ( produits agricoles )
Bankruptcy and Insolvency Act — B-3
products of aquaculture includes all cultivated aquatic plants and animals; ( produits aquicoles )
Bankruptcy and Insolvency Act — B-3
products of the sea, lakes and rivers includes fish of all kinds, marine and freshwater organic and inorganic life and any substances extracted or derived from any water, but does not include products of aquaculture. ( produits aquatiques )
Bankruptcy and Insolvency Act — B-3
compensation includes vacation pay but does not include termination or severance pay. ( rémunération )
Bankruptcy and Insolvency Act — B-3
receiver means a receiver within the meaning of subsection 243(2) or an interim receiver appointed under subsection 46(1), 47(1) or 47.1(1). ( séquestre )
Bankruptcy and Insolvency Act — B-3
person who is subject to a receivership means a person any of whose property is in the possession or under the control of a receiver. ( personne faisant l’objet d’une mise sous séquestre )
Bankruptcy and Insolvency Act — B-3 81.6
 any of whose property is in the possession or under the control of a receiver. ( personne faisant l’objet d’une mise sous séquestre ) receiver means a receiver within the meaning of subsection 243(2) or an interim receiver appointed under subsection 46(1), 47(1) or 47.1(1). ( séquestre ) 2005, c. 47, s. 67; 2007, c. 36, s. 39; 2012, c. 16, s. 81 2023, c. 6, s. 4
Bankruptcy and Insolvency Act — B-3
perishable fruits or vegetables includes perishable fruits and vegetables that have been repackaged or transformed by the purchaser to the extent that the nature of the fruits or vegetables remains unchanged. ( fruits ou légumes périssables )
Bankruptcy and Insolvency Act — B-3
proceeds of sale means the proceeds from the sale by the purchaser of the perishable fruits or vegetables that are subject to the trust, whether or not those proceeds have been kept by the purchaser in a separate account or have been combined with other funds. ( produit de vente )
Bankruptcy and Insolvency Act — B-3
subject to a receivership , in relation to a person, means in respect of whom any property is under the possession or control of a receiver. ( mise sous séquestre )
Bankruptcy and Insolvency Act — B-3 82
Trustee to have right to sell patented articles 82 (1) If any property of a bankrupt vesting in a trustee consists of articles that are subject to a patent or to a certificate of supplementary protection issued under the Patent Act and were sold to the bankrupt subject to any restrictions or limitations, the trustee is not bound by the restrictions or limitations but may sell and dispose of the articles free and clear of the restrictions or limitations. Right of manufacturer (2) If the manufacturer or vendor of the articles referred to in subsection (1) objects to the disposition of them by the trustee as provided by this section and gives to the trustee notice in writing of the objection before their sale or disposition, that manufacturer or vendor has the right to purchase the articles at their invoice prices, subject to any reasonable deduction for depreciation or deterioration. R.S., 1985, c. B-3, s. 82; 1993, c. 34, s. 10(E); 2017, c. 6, s. 122
Bankruptcy and Insolvency Act — B-3 84
Effect of sales by trustee 84 All sales of property made by a trustee vest in the purchaser all the legal and equitable estate of the bankrupt therein. R.S., 1985, c. B-3, s. 84; 2004, c. 25, s. 51(F)
Bankruptcy and Insolvency Act — B-3 84.1
Assignment of agreements 84.1 (1) On application by a trustee and on notice to every party to an agreement, a court may make an order assigning the rights and obligations of a bankrupt under the agreement to any person who is specified by the court and agrees to the assignment. Individuals (2) In the case of an individual, (a) they may not make an application under subsection (1) unless they are carrying on a business; and (b) only rights and obligations in relation to the business may be assigned. Exceptions (3) Subsection (1) does not apply in respect of rights and obligations that are not assignable by reason of their nature or that arise under (a) an agreement entered into on or after the date of the bankruptcy; (b) an eligible financial contract; or (c) a collective agreement. Factors to be considered (4) In deciding whether to make the order, the court is to consider, among other things, (a) whether the person to whom the rights and obligations are to be assigned is able to perform the obligations; and (b) whether it is appropriate to assign the rights and obligations to that person. Restriction (5) The court may not make the order unless it is satisfied that all monetary defaults in relation to the agreement — other than those arising by reason only of the person’s bankruptcy, insolvency or failure to perform a non-monetary obligation — will be remedied on or before the day fixed by the court. Copy of order (6) The applicant is to send a copy of the order to every party to the agreement. 2005, c. 47, s. 68; 2007, c. 29, s. 97; 2009, c. 31, s. 64
Bankruptcy and Insolvency Act — B-3 85
Application to limited partnerships 85 (1) This Act applies to limited partnerships in like manner as if limited partnerships were ordinary partnerships, and, on all the general partners of a limited partnership becoming bankrupt, the property of the limited partnership vests in the trustee. Actions by trustee and bankrupt’s partner (2) If a member of a partnership becomes bankrupt, the court may authorize the trustee to commence and prosecute any action in the names of the trustee and of the bankrupt’s partner, and any release by the partner of the debt or demand to which the action relates is void or, in the Province of Quebec, null. Notice to partner (3) Notice of the application for authority to commence an action under subsection (2) shall be given to the bankrupt’s partner, who may show cause against it, and on his application the court may, if it thinks fit, direct that he shall receive his proper share of the proceeds of the action, and, if he does not claim any benefit therefrom, he shall be indemnified against costs in respect thereof as the court directs. R.S., 1985, c. B-3, s. 85; 2004, c. 25, s. 52
Bankruptcy and Insolvency Act — B-3 86
Status of Crown claims 86 (1) In relation to a bankruptcy or proposal, all provable claims, including secured claims, of Her Majesty in right of Canada or a province or of any body under an Act respecting workers’ compensation, in this section and in section 87 called a “workers’ compensation body”, rank as unsecured claims. Exceptions (2) Subsection (1) does not apply (a) to claims that are secured by a security or charge of a kind that can be obtained by persons other than Her Majesty or a workers’ compensation body (i) pursuant to any law, or (ii) pursuant to provisions of federal or provincial legislation, where those provisions do not have as their sole or principal purpose the establishment of a means of securing claims of Her Majesty or of a workers’ compensation body; and (b) to the extent provided in subsection 87(2), to claims that are secured by a security referred to in subsection 87(1), if the security is registered in accordance with that subsection. Exceptions (3) Subsection (1) does not affect the operation of (a) subsections 224(1.2) and (1.3) of the Income Tax Act ; (b) any provision of the Canada Pension Plan or of the Employment Insurance Act that refers to subsection 224(1.2) of the Income Tax Act and provides for the collection of a contribution, as defined in the Canada Pension Plan , an employee’s premium, or employer’s premium, as defined in the Employment Insurance Act , or a premium under Part VII.1 of that Act, and of any related interest, penalties or other amounts; or (c) any provision of provincial legislation that has a similar purpose to subsection 224(1.2) of the Income Tax Act , or that refers to that subsection, to the extent that it provides for the collection of a sum, and of any related interest, penalties or other amounts, where the sum (i) has been withheld or deducted by a person from a payment to another person and is in respect of a tax similar in nature to the income tax imposed on individuals under the Income Tax Act , or (ii) is of the same nature as a contribution under the Canada Pension Plan if the province is a province providing a comprehensive pension plan as defined in subsection 3(1) of the Canada Pension Plan and the provincial legislation establishes a provincial pension plan as defined in that subsection, and for the purpose of paragraph (c), the provision of provincial legislation is, despite any Act of Canada or of a province or any other law, deemed to have the same effect and scope against any creditor, however secured, as subsection 224(1.2) of the Income Tax Act in respect of a sum referred to in subparagraph (c)(i), or as subsection 23(2) of the Canada Pension Plan in respect of a sum referred to in subparagraph (c)(ii), and in respect of any related interest, penalties or other amounts. R.S., 1985, c. B-3, s. 86; 1992, c. 27, s. 39; 1997, c. 12, s. 73; 2000, c. 30, s. 148; 2005, c. 47, s. 69; 2009, c. 33, s. 25
Bankruptcy and Insolvency Act — B-3 87
Statutory Crown securities 87 (1) A security provided for in federal or provincial legislation for the sole or principal purpose of securing a claim of Her Majesty in right of Canada or of a province or of a workers’ compensation body is valid in relation to a bankruptcy or proposal only if the security is registered under a prescribed system of registration before the date of the initial bankruptcy event. Idem (2) In relation to a bankruptcy or proposal, a security referred to in subsection (1) that is registered in accordance with that subsection (a) is subordinate to securities in respect of which all steps necessary to make them effective against other creditors were taken before that registration; and (b) is valid only in respect of amounts owing to Her Majesty or a workers’ compensation body at the time of that registration, plus any interest subsequently accruing on those amounts. R.S., 1985, c. B-3, s. 87; 1992, c. 27, s. 39; 1997, c. 12, s. 74; 2004, c. 25, s. 53; 2005, c. 47, s. 70
Bankruptcy and Insolvency Act — B-3 88
Priority 88 In relation to a bankruptcy or proposal, no order may be made under this Act if the order would have the effect of subordinating financial collateral. R.S., 1985, c. B-3, s. 88; 1992, c. 27, s. 39; 1994, c. 26, s. 6; 2007, c. 29, s. 99, c. 36, s. 112; 2009, c. 31, s. 65
Bankruptcy and Insolvency Act — B-3 89 and 90
89 and 90 [Repealed, 1992, c. 27, s. 39]
Bankruptcy and Insolvency Act — B-3 92 and 93
92 and 93 [Repealed, 2000, c. 12, s. 12]