CLE Online

Welcome and Introduction

General Overview of All Insolvency Statutes

• insolvency—identifying it factually and analyzing it legally
• trying to avoid bankruptcy—proposals and creditor protection
• bankruptcy under the Bankruptcy and Insolvency Act of Canada
• receivership under provincial law
• practice directions and model orders of the Supreme Court
• pitfalls to watch out for!
• other potentially applicable federal and provincial law

Mary I.A. Buttery — Davis LLP, Vancouver
Geoffrey H. Dabbs — Gehlen Dabbs, Vancouver

Who’s on First: Priority Issues in Bankruptcy and Insolvency

• the basic priority scheme under the Bankruptcy and Insolvency Act
• priority creditors
  • secured creditors
  • Crown claims
  • preferred creditors
  • the Wage Earner Protection Program Act
• postponed creditors
  • equity claims
  • non-arm’s length transactions
• property of the bankrupt
  • trust property
• exempt property

Gregory J. Gehlen — Gehlen Dabbs, Vancouver

Networking Break

Informal Proposals

Christopher J. Ramsay — Clark Wilson LLP, Vancouver

• fraudulent preferences and transfers at undervalue
• s. 38 claims
• lifting the stay of proceedings
• s. 163 examinations
• waiving solicitor/client privilege on behalf of a bankrupt company
• claims to property in possession of the bankrupt
• fraud claims surviving discharge

Sherryl Dubo — Fulton & Company LLP, Kamloops

Lunch (on your own)

Landlord and Tenant

• bankruptcy and the landlord tenant relationship
• impact on landlord's rights/remedies on tenant making a proposal under the Bankruptcy and Insolvency Act of Canada
• impact on landlord's rights/remedies on tenant filing for creditor protection under the Companies' Creditors Arrangement Act of Canada
• receivership of the tenant
• landlord's options in dealing with a potential non-insolvent tenant

Anthony Leoni — Webster Hudson & Coombe LLP, Vancouver

Directors' and Officers' Liability in Insolvency

• who is considered an officer or director?
• types of liability
  • unpaid tax obligations
  • assumed corporate liability
  • liability for wages and pensions
  • successorship issues
• avoiding or minimizing the liability
  • defences
  • bankruptcy
  • resignation
  • payment strategy
  • compromising claims against directors
• indemnification and insurance
• liability for breach of directors' duties
  • officers and directors as secured creditors
  • declaration of dividends by insolvent corporations
  • voluntary obligations as officers and directors
  • derivative actions
  • breach of trust

William D. Riley — Barrister & Solicitor, Vancouver

Creditors’ Issues

• forbearance agreements
• settlements
• avoiding fraudulent conveyances/preferences
• issues under federal and provincial statutes
• professional responsibility

Heather M.B. Ferris — Lawson Lundell LLP, Vancouver

Networking Break

Fraudulent Preferences

• ethical dilemmas in planning
• investigating transactions—what to look for
• litigation strategies and practical issues

Benjamin La Borie — Hakemi & Ridgedale LLP, Vancouver 

Personal Bankruptcy & Discharge of Bankrupt

• process
  • the trustee in bankruptcy
  • types of insolvency proceedings
  • stay of proceedings
  • property of a bankrupt
• role of creditors
  • the filing of proofs of claims
  • acting as inspector
  • s. 38 orders
• role of the court
• conclusion of process
  • orders of discharge
  • debts which survive after discharge
• what you need to know if you are acting for a bankrupt or creditor
• the role of the trustee
• grounds for opposing the bankrupt’s discharge
• what evidence you should put before the court
• what orders the court may make

Katherine M. Wellburn — Murray Jamieson, Vancouver

Questions and Discussion