Bankruptcy & Insolvency 2016


Course Date: April 22, 2016

Total: 5h 50min

Welcome and Introduction

Mary I.A. Buttery — DLA Piper (Canada) LLP, Vancouver
Geoffrey H. DabbsGehlen Dabbs, Vancouver
Teresa M.A. Sheward — CLEBC Program Lawyer

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
  • practice considerations, advice, and action points 

Geoffrey H. DabbsGehlen Dabbs, Vancouver
Mary I.A. ButteryDLA Piper (Canada) LLP, 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
    • unpaid suppliers
    • the Wage Earner Protection Program Act
  • postponed creditors
    • equity claims
    • non-arm’s length transactions
  • trust property
  • exempt property

Gregory J. GehlenGehlen Dabbs, Vancouver

Networking Break

Family Law and Bankruptcy

  • property issues and the division of family property in insolvent circumstances
  • effect of bankruptcy and bankruptcy protection of a spouse under the Bankruptcy and Insolvency Act of Canada
  • specific property issues such as excluded property
  • priority issues
  • spousal support and maintenance
  • impact of the Family Property Act of British Columbia
  • practical reality of the legal analysis of family law in insolvent circumstances
  • ethical and practice issues

Benjamin La Borie Hakemi & Ridgedale LLP, Vancouver
Jennifer McCracken, CIRP  Trustee, Senior Manager, Personal Restructing Services, Deloitte Restructuring Inc., Langley

Issues for Litigation

  • fraudulent preferences and transfers at undervalue
  • section 38 claims
  • lifting the stay of proceedings
  • section 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

Networking Lunch

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 potentially insolvent tenant
  • tips and traps in dealing with a defaulting tenant

Peter J. Roberts — Lawson Lundell LLP, Vancouver

 Directors' and Officers' Liability in Insolvency

  • who is considered an officer or director?
  • types of liability
    • unpaid tax obligations
    • statutorily assumed corporate liability
    • liability for wages and pensions
    • WEPPA
  • avoiding or minimizing the liability
    • defences
    • bankruptcy
    • resignation; timing issues
    • 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

Forbearance

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

H. Lance Williams  DLA Piper (Canada) LLP, Vancouver

 Networking Break

 Proposals

  • division I proposals
  • notice of intention
  • stay of proceedings
  • default
  • financing
  • 'out of court' proposals
  • informal proposals

Vicki Tickle — Fasken Martineau DuMoulin LLP, Vancouver

Personal Bankruptcy & Discharge of Bankrupt

  • process
    • the trustee in bankruptcy
    • summary administration vs. ordinary administration 
    • stay of proceedings
    • property of a bankrupt
    • surplus income 
  • role of creditors
    • the filing of proofs of claims
    • acting as inspector 
  • 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
  • grounds for opposing the bankrupt’s discharge
  • what evidence you should put before the court
  • what orders the court may make

Lana Gilbertson, CIRP — Trustee, Senior Vice-President, Advisory Services, MNP Ltd., Vancouver

Questions and Discussion