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Bankruptcy and Insolvency Act

   Also found in: Acronyms 0.01 sec.
Bankruptcy and Insolvency Act
Legislation in Canada laying out requirements for most bankruptcies. Individuals and most businesses (excepting banks, insurance companies, and some other financial companies) may file for bankruptcy under the Act. It forgives debts not repaid after all reasonable efforts have been made to preserve assets on behalf of creditors.


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was appointed as Trustee to act according to Chemokine making a proposal to its creditors under the Bankruptcy and Insolvency Act.
He ruled that in the context of the Bankruptcy and Insolvency Act, child maintenance is intended to be used to offset monthly household expenses.
The courts had to decide, however, whether their transgressions constituted a breach of the common law duty that met the requirements of The Bankruptcy and Insolvency Act.
 
 
 
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