Canada's economy has continued to fare surprisingly well since we published the first issue of our 2021 Restructuring Review in March, despite continuing pandemic restrictions. However, insolvency-related concerns, such as long-term unemployment and the continued struggles of locked-down industries, remain on our radar.
In this issue of the Davies Restructuring Review, we analyze the following emerging trends:
- A considerable increase in filings under the Companies' Creditors Arrangement Act (CCAA), reversing the decline that had persisted through the second half of 2020
- A movement by debtors from the Bankruptcy and Insolvency Act to the CCAA regime, drawing on the advantages afforded by Canada's unique bifurcated insolvency system
- The changing role of government as a stakeholder and policy-maker in the Canadian insolvency context
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