Insolvency Reform

The Government of Canada has finally amended certain portions of the Bankruptcy and Insolvency Act (the “BIA”) as well as introducing the Wage Earner Protection Program Act and has made other amendments to legislation relating to Student Loans and RRSPs etc.

The General Rules relevant to the BIA amendments that were brought into force have also been amended.  It should be noted that more changes to various insolvency legislation is contemplated but are not yet in force.

Insolvency Update August 2008