Bankruptcy & Insolvency 2024
Course Date: February 23, 2024
Total: 5h 17min
Total Ethics: 1h
Bankruptcy & Insolvency 2024
Course Date: February 23, 2024
Total: 5h 17min
Total Ethics: 1h
Course Introduction and Land Acknowledgement (9:00 – 9:10)
Teresa Sheward — Program Lawyer, CLEBC, Vancouver
Geoffrey H. Dabbs — Gehlen Dabbs Cash LLP, Vancouver
Rebecca M. Morse — Farris LLP, Vancouver
Geoffrey H. Dabbs — Gehlen Dabbs Cash LLP, Vancouver
Rebecca M. Morse — Farris LLP, Vancouver
General Overview of All Insolvency Statutes (9:10 – 9:45)
- 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. Dabbs — Gehlen Dabbs Cash LLP, Vancouver
Rebecca M. Morse — Farris LLP, Vancouver
Rebecca M. Morse — Farris LLP, Vancouver
Priority Issues in Bankruptcy and Insolvency (9:45 – 10:25)
- 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
Carol M. Cash — Gehlen Dabbs Cash LLP, Vancouver
BREAK (10:25 – 10:40)
Insolvency and the Landlord/Tenant Relationship (10:40 – 11:20)
- 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
- receivership of the tenant
- Commercial Tenancy Act and liability of bankruptcy trustee and receiver for rent
- landlord's options in dealing with a potentially insolvent tenant
- tips and traps in dealing with an insolvent tenant
Robert Fischer — Whitelaw Twining Law Corporation, Vancouver
Directors' and Officers' Liability in Insolvency (11:20 – 12:00)
- who is considered an officer or director?
- types of liability
- avoiding or minimizing the liability
- indemnification and insurance
- liability for breach of directors' duties
Ryan Laity — Borden Ladner Gervais LLP, Vancouver
LUNCH (12:00 – 1:00)
Forbearance Agreements (1:00 - 1:25)
- Forbearance Agreements
- timing and effect
- key terms and optional terms
- issues and pitfalls
Jordan D. Schultz — Dentons Canada LLP, Vancouver
Proposals to Creditors (1:25 – 2:05)
- Division 1 Proposals under the BIA
- who may make a proposal
- filing under the BIA
- stay of proceedings
- purpose and terms
- process and timing
- restructuring options
- creditor and court approval
- performance, default, and annulment
- Informal Proposals
- considerations
- advantages and disadvantages
- work outs
Jennifer McCracken, LIT — BDO First Call Debt Solutions, BC and Yukon
BREAK (2:05 – 2:20)
Proofs of Claim, Disallowances, and Appeals Therefrom (2:20 – 2:55)
- filing of a proof of claim with a bankruptcy trustee and the process thereafter
- purpose of BIA
- role of the courts
- proofs of claim
- trustee's duty to examine
- trustee may allow or disallow
- creditor's right to apply to expunge or reduce
- procedure
- scope of application
- appeals from disallowance
- nature of an appeal
- trustee's duty to appear on appeal
- limitation period
- process (de novo or true appeal; fresh evidence)
- trial de novo
- standard of review
- standing
- an alternative or parallel process: suing in the civil courts
- costs
- trustee's fees
- trust claims
- secured claims
Jonathan L. Williams — Owen Bird Law Corporation, Vancouver
Personal Bankruptcy and Discharge of Bankrupt (2:55 – 3:40)
- 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 that survive after discharge
- what you need to know if you are acting for a bankrupt or creditor
- student loans
- tax driven bankruptcies
- multiple bankruptcies
- grounds for opposing the bankrupt's discharge
- what evidence you should put before the court
- what orders the court may make
- variation of bankruptcy discharge orders
- appeals
Jennifer McCracken, LIT — BDO First Call Debt Solutions, BC and Yukon
Cody G. Reedman — Reedman Law, Vancouver
Cody G. Reedman — Reedman Law, Vancouver
Hot Topics in Insolvency (3:40 – 4:00)
- new legislation: Money Judgement Enforcement Act replaces Court Order Enforcement Act
- reverse vesting orders
- government COVID loans
- scope of releases
- monitors' costs
- trusts
Geoffrey H. Dabbs — Gehlen Dabbs Cash LLP, Vancouver
Robert Fischer — Whitelaw Twining Law Corporation, Vancouver
Jennifer McCracken, LIT — BDO First Call Debt Solutions, BC and Yukon
Robert Fischer — Whitelaw Twining Law Corporation, Vancouver
Jennifer McCracken, LIT — BDO First Call Debt Solutions, BC and Yukon
Rebecca M. Morse — Farris LLP, Vancouver
Jordan D. Schultz — Dentons Canada LLP, Vancouver
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Slides: General Overview of All Insolvency Statutes
Paper: General Overview of All Insolvency Statutes
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