Updated Introduction to Corporate Records for LSS

Course Date: March 7, 2003

Welcome and Introduction

General Overview of All Insolvency Statutes

  • avoiding bankruptcy—creditor protection and proposals in insolvent circumstances
  • bankruptcy under the Bankruptcy and Insolvency Act of Canada
  • receivership under provincial law
  • model court orders
  • things to watch for and unusual provisions, including s. 244 notices
  • other provincial and federal statutes

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

Deemed Trusts, Constructive Trusts and Priorities

  • outline of the normal order of priorities of creditor claims on the insolvent person's assets
  • jumping the queue: statutory deemed trust claims
  • common priority pitfalls
  • using insolvency statutes to reorder priorities

Magnus C. Verbrugge — Borden Ladner Gervais LLP, Vancouver


Creditors' Issues

  • forbearance agreements and settlements
    • what they are
    • when to use them and when not to
    • common pitfalls and enforceability issues

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

Issues for Litigation

  • fraudulent preferences and transfers at under value
  • s. 38 claims—how to protect your client
  • appeals from the disallowance of a claim by the trustee: true appeals or new evidence?
  • the use of s. 163 examinations
  • waiving solicitor/client privilege on behalf of a bankrupt company
  • claiming legal costs in an insolvency proceeding

Christopher J. Ramsay — Fraser Milner Casgrain LLP, Vancouver

Lunch (on your own) plus Optional Lunch Session on "Ethics"

Landlord and Tenant

  • overview of rights and obligations of landlords and tenants
  • what happens when
    • the tenant is in receivership under provincial law?
    • the tenant is in bankruptcy under the Bankruptcy and Insolvency Act of Canada?
    • the tenant files a proposal under the Bankruptcy and Insolvency Act or the Companies' Creditors Arrangement Act?
  • recent case developments, including Canadian Petcetera Limited Partnership
  • provincial versus federal law with respect to rights, remedies, and priorities
  • obligations of guarantors and indemnitors in insolvency

Vicki Tickle — Fasken Martineau DuMoulin LLP, Vancouver

Directors’ and Officers’ Liability

  • who is an officer or director?
  • types of liability
    • taxes
    • provincial legislation
    • liability for wages
  • avoiding or minimizing the effects of 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
    • law office management and ethical issues

William D. Riley — Barrister & Solicitor, Vancouver

Family Law and Insolvency

  • child and spousal support
  • priority issues: property and support
  • stay of proceedings
  • property of the bankrupt
  • treatment of improper transactions

Ben J. Ingram — The Law Offices of Ben Ingram & Associates, Vancouver


Personal Bankruptcy

  • pillars of insolvency
  • who are the stakeholders?
  • property of bankrupt
  • duties of bankrupt and trustee
  • proposals under the Bankruptcy and Insolvency Act
    • what is a proposal?
    • who qualifies?
    • what are the steps in doing a proposal?
    • what are the advantages and disadvantages?
    • who pays?

Bonita Lewis-Hand — Lawson Lundell LLP, Vancouver
Jennifer D. McCracken, CIRP — Campbell, Saunders Ltd., Vancouver


  • process for discharge of bankrupts
  • factors taken into account by the court on discharge applications
  • orders that may be made by the court on discharge applications
  • claims not released by discharge
  • discharges for multiple-time bankrupts
  • discharges for high income tax debtors
  • discharges for bankrupts with other conduct issues

Lana Gilbertson, CIRP — Trustee, Senior Vice-President, Advisory Services, Meyers Norris Penny Ltd., Vancouver
Katherine M. Wellburn — Murray Jamieson, Vancouver  

Questions and Discussion