Representing an Unusual and Rare Motion
One of the greatest advantages of corporations as a vehicle for developing capital in society is that they usually transcend the lifetime of any particular founding individual. Corporations do not necessarily live forever though, and the winding up or bankruptcy of a company can give rise to some complexities around the division of assets.
The Companies’ Creditors Arrangement Act (CCAA) was first enacted in 1933 during an economic depression, and found to be constitutionally valid in a 1934 reference. Its purpose was described by the British Columbia Court of Appeal in Chef Ready Foods Ltd. v. Hongkong Bank of . . . [more]


