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This received a 27/28 in my OAC law class so, have a blast..... CANADA The law sometimes seems to pervade all aspects of our lives and an involvement with bankruptcy and insolvency law has proved to be almost unavoidable for business people in Canada during the 1 ....

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.... occurs at the same time as a bankruptcy. Corporations that have become insolvent can try to avoid bankruptcy and receivership by reorganizing their finances. The Bankruptcy and Insolvency Act deals with reorganizations and another federal statute, the Companies’ Creditors Arrangement Act, may offer relief to some corporations. Some of Canada’s biggest news stories of the past few years have concerned the attempts of major Canadian companies such as Olympia & York, Algoma Steel, Grafton Fraser, Woodwards, Westar Mining, and Birks, to complete reorganizations. But the most well known companies were both Air Canada and Canadian ....