Reinventing Bankruptcy Law: A History of the Companies’ Creditors Arrangement Act

By Virginia Torrie

© 2020

Reinventing Bankruptcy Law explodes conventional wisdom about the history of the Companies’ Creditors Arrangement Act and in its place offers the first historical account of Canada’s premier corporate restructuring statute. The book adopts a novel research approach that combines legal history, socio-legal theory, ideas from political science, and doctrinal legal analysis. Meticulously researched and multi-disciplinary, Reinventing Bankruptcy Law provides a comprehensive and concise history of CCAA law over the course of the twentieth century, framing developments within broader changes in Canadian institutions including federalism, judicial review, and statutory interpretation.

Examining the influence of private parties and commercial practices on lawmaking, Virginia Torrie argues that CCAA law was shaped by the commercial needs of powerful creditors to restructure corporate borrowers, providing a compelling thesis about the dynamics of legal change in the context of corporate restructuring. Torrie exposes the errors in recent case law to devastating effect and argues that courts and the legislature have switched roles – leading to the conclusion that contemporary CCAA courts function like a modern day Court of Chancery. This book is essential reading for the Canadian insolvency community as well as those interested in Canadian institutions, legal history, and the dynamics of change.

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Product Details

  • World Rights
  • Page Count: 240 pages
  • Dimensions: 6.0in x 1.0in x 9.0in
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  • AVAILABLE JUN 2020

    From: $48.75

    Regular Price: $65.00

    ISBN 9781487506421
  • AVAILABLE JUL 2020

    From: $48.75

    Regular Price: $65.00

Quick Overview

Reinventing Bankruptcy Law offers the first historical account of the CCAA, drawing on a broad array of historical sources including legislation, news sources, scholarly writing, archival materials, and more.

Reinventing Bankruptcy Law: A History of the Companies’ Creditors Arrangement Act

By Virginia Torrie

© 2020

Reinventing Bankruptcy Law explodes conventional wisdom about the history of the Companies’ Creditors Arrangement Act and in its place offers the first historical account of Canada’s premier corporate restructuring statute. The book adopts a novel research approach that combines legal history, socio-legal theory, ideas from political science, and doctrinal legal analysis. Meticulously researched and multi-disciplinary, Reinventing Bankruptcy Law provides a comprehensive and concise history of CCAA law over the course of the twentieth century, framing developments within broader changes in Canadian institutions including federalism, judicial review, and statutory interpretation.

Examining the influence of private parties and commercial practices on lawmaking, Virginia Torrie argues that CCAA law was shaped by the commercial needs of powerful creditors to restructure corporate borrowers, providing a compelling thesis about the dynamics of legal change in the context of corporate restructuring. Torrie exposes the errors in recent case law to devastating effect and argues that courts and the legislature have switched roles – leading to the conclusion that contemporary CCAA courts function like a modern day Court of Chancery. This book is essential reading for the Canadian insolvency community as well as those interested in Canadian institutions, legal history, and the dynamics of change.

Continue Reading Read Less

Product Details

  • World Rights
  • Page Count: 240 pages
  • Dimensions: 6.0in x 1.0in x 9.0in
  • Author Information

    Virginia Torrie is an assistant professor in the Faculty of Law at the University of Manitoba, and serves as Editor-in-Chief of the Banking and Finance Law Review.
  • Table of contents

    Figures and Tables    
    Abbreviations  

    1. Historical Institutionalism and the Recursivity of Law    

    Part One: 1920s–1950s

    2. Corporate Restructuring as a Bondholder Remedy    
    3. Enshrining a Bondholder Remedy in Federal Legislation    
    4. Constitutional References and Changing Conceptions of Federalism: 1934–1937    
    5. Efforts to Repeal the Companies’ Creditors Arrangement Act: 1938–1953   

    Part Two: 1970s–2000s

    6. New Lenders, New Forms of Lending, and Stalled Bankruptcy Reforms: 1970s–1980s    
    7. Purposive Interpretation and Proactive Judging: 1980s–1990s    
    8. Judicial Sanction of “Tactical Devices”    
    9. Formalizing a Modern “Debtor-in-Possession” Restructuring Narrative    
    10. Conclusion    

    Appendices    
    Notes  

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