Abstract

http://ssrn.com/abstract=1309703
 
 

Footnotes (190)



 


 



The Winding-Up and Restructuring Act: Realigning Insolvency's Orphan to the Modern Law Reform Process


Bruce L. Welling


University of Western Ontario

Thomas G. W. Telfer


University of Western Ontario

September 1, 2008

Banking & Finance Law Review, Vol. 24, p. 233, 2008

Abstract:     
The Winding-Up and Restructuring Act (WURA) is an important part of Canada's insolvency law structure. Insolvent banks and insurance companies may only be liquidated under WURA and are excluded from the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA). However, WURA has been neglected and many of its provisions reflect its nineteenth century origins. The most recent round of insolvency reforms in S.C. 2005, c. 47 and S.C. 2007, c. 36 do not make any substantive changes to WURA. BIA and CCAA have been modernized over time; WURA is the orphan of insolvency law reform. The article examines whether WURA should remain a distinct statute and if so, whether it should be limited to financial institutions. The article considers specific areas of reform in relation to pre-bankruptcy transactions, the role of inspectors, preferred claims and Crown priority.

Number of Pages in PDF File: 36

Accepted Paper Series





Download This Paper

Date posted: December 3, 2008 ; Last revised: December 12, 2008

Suggested Citation

Welling, Bruce L. and Telfer, Thomas G. W., The Winding-Up and Restructuring Act: Realigning Insolvency's Orphan to the Modern Law Reform Process (September 1, 2008). Banking & Finance Law Review, Vol. 24, p. 233, 2008. Available at SSRN: http://ssrn.com/abstract=1309703

Contact Information

Bruce L. Welling
University of Western Ontario ( email )
1151 Richmond Street
Suite 2
London, Ontario N6A 5B8
Canada
Thomas G. W. Telfer (Contact Author)
University of Western Ontario ( email )
1151 Richmond Street
Suite 2
London, Ontario N6A 5B8
Canada
Feedback to SSRN


Paper statistics
Abstract Views: 1,626
Downloads: 263
Download Rank: 68,660
Footnotes:  190
Paper comments
No comments have been made on this paper

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo7 in 0.297 seconds