A creditor with a judgment from a court in England and Wales, Scotland, and Northern Ireland against a debtor holding BC assets generally has two routes to enforcement in British Columbia. Both are relatively efficient compared to foreign judgment enforcement in many other jurisdictions. The right choice depends on the nature of the judgment, the debtor, and the assets at stake. BC sees a steady flow of UK judgments because of the long-standing commercial and personal ties be

Cross-border insolvency files do not stay in one jurisdiction. A debtor in administration, liquidation, or bankruptcy abroad may hold Canadian bank accounts, real property, or receivables; face litigation in Canada; or have Canadian creditors positioning to enforce against an insolvent debtor's assets. When that happens, the foreign officeholder needs a Canadian recognition order. The question is which one. Canada has two parallel recognition regimes. Part XIII of the Bankrup

Before a creditor can commence a foreclosure proceeding or enforce their security against a farmer in Canada, there is a mandatory step that is easy to overlook. The Farm Debt Mediation Act (FDMA) requires a creditor to provide written notice to any farmer engaged in commercial farming operations at least 15 business days before commencing any proceedings to realize on security. The FDMA is federal legislation intended to benefit farmers, administered through Agriculture and

Falling behind on a mortgage is stressful. Sometimes the default arises from missed payments. Sometimes the mortgage has matured and cannot be paid out at the end of the term. In other cases, additional borrowing secured against the property has made the debt load unmanageable. Then a package from the lender arrives, often including letter from the lender's law firm demand payment and acceleration of the mortgage, and a Notice of Intention to Enforce Security under the Bankru

This post is for informational purposes only and does not constitute legal advice. Deciding to close a business is rarely easy especially if it is the result of financial pressures. But how you close matters just as much as the decision itself for your stakeholders including creditors, your employees, and your own personal exposure. If structured as a sole proprietorship there is no separation between in the individual and the business. For companies incorporated through prov

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

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

*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

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