Changes to Canada's Bankruptcy Act

Bill C-12 Update

On December 14, 2007, Bill C-12, An Act to amend the Bankruptcy and Insolvency Act, the Companies’ Creditors Arrangement Act, the Wage Earner Protection Program Act and chapter 47 of the Statutes of Canada, 2005 received Royal Assent. No amendments were made by the Senate such that the bill became chapter 36 of the Statutes of Canada, 2007. Contrary to what you may have heard or read, none of the amendments are in force yet. A coming into force date will be fixed by order of the Governor in Council, which has not yet been tabled.

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