Uniform Reviewable Transactions Act

Loi_uniforme_Transactions_Revisables (Sept, 2012)

This Act is intended to provide a comprehensive approach to the debtor/creditor relationship. Uniform legislation is needed to incorporate the piecemeal reforms from the last 100 years and to improve on the often inconsistent approach to creditors’ rights. The proposed Act clarifies transactions at undervalue, relief for unsecured creditors, creditor hierarchies, securities, and the creditor sharing principle.

Distress for Rent: Proposals

Distress allows a landlord to seize and sell a tenant’s goods to satisfy arrears in rent. It is a remedy fraught with uncertainty and in need of integration into the personal property security regime. The Commission recommends abolishing distress in its current form, and replacing it with a new system that would allow a landlord’s interest in rental payments to be converted into security interests.