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Bankruptcy & Insolvency Insights
Legal Articles
A Fair Fee - Legal Profession Act Reviews of Lawyers Accounts
When a client hires a lawyer and that lawyer renders accounts for services rendered, those legal fees are reviewable pursuant to the provisions of the Legal Profession Act , regardless whether it is a criminal defence or civil litigation matter, or a commercial transaction. The LPA provides a mechanism by which either a lawyer or client can apply to have the lawyer’s accounts reviewed, which then results in the Registrar endorsing a Certificate of Fees which is deemed to be e
Government Student Loans: the financial and procedural challenges to hardship applications
Introduction Government student loans are unique debts in that student borrowers are given credit by the government for the purposes of bettering themselves and becoming contributing members of the economy. Section 178(1) of the Bankruptcy and Insolvency Act represents debts and liabilities that are excluded from a discharge from bankruptcy and includes debts and liabilities from spousal and child support, liabilities obtained from false pretenses or fraudulent misrepresentat
Employer Bankruptcy and Termination Pay
*By Ryan Sissons (summer articled student) Being terminated or losing your job is undoubtedly a challenging experience, and this difficulty is further exacerbated when the company is insolvent. Directing an insolvent company also gives rise to numerous concerns. Therefore, it is essential to understand that a company's bankruptcy or receivership does not automatically absolve it of its obligations to its employees. Employee Wage Protections Under the Bankruptcy and Insolvency
Surplus Income in a Bankruptcy
In today's post, we'll be focusing on surplus income and Directive 11R2. This policy holds significant relevance for consumer debtors as it directly impacts bankruptcy proceedings in Canada. Most crucially, it determines the amount a debtor will need to contribute to their bankruptcy. To phrase it differently, the creditors bear the brunt of the loss due to the bankruptcy, and the bankrupt party is also expected to tighten their financial belts if they have the capacity to do
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