Bankruptcy & Insolvency 2014


Course Date: October 29, 2014

Total: 5h 28min

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

Issues for Litigation

  • 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