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.
Topics covered in this report include title and structure of the proposed Act, the scope of new preferential payments law, provincial harmonization with the federal Bankruptcy and Insolvency Act, the integration of preferences law with other law on transactions, remedies for creditors, the exemption of arm’s length payments from challenges, and limitation periods.
Under Quebec’s Code Civil, transactions at undervalue and preferential transfers are subject to the same rules, and outcomes have been found to be predictable and consistent. This paper is meant to provide an overview of this part of Quebec law, and no recommendations are made.
This paper is part one of a two-part report on fraudulent conveyances and fraudulent preferences. The entire report outlines draft legislation that, if adopted in each province and territory, would provide uniform laws across Canada.
This report provides an update on The Uniform Law Conference of Canada’s project on reform of fraudulent conveyance and fraudulent preference laws. The aim of the project is to create draft legislation for each province/territory to adopt.
The Uniform Law Conference of Canada (Civil Law section) outlines its work on fraudulent preferences and the effort to create uniform draft legislation for the provinces to adopt. This report includes summaries of existing provincial and federal legislation, and review of the policy considerations and issues still to be determined.
The Uniform Law Conference of Canada (Civil Law section) outlines its work on fraudulent preferences and the effort to create uniform draft legislation for the provinces to adopt. This Report includes summaries of existing provincial and federal legislation, and review of the policy considerations and issues still to be determined.
The Law Reform Commission submits draft legislation for a Personal Property Security Act. The proposed Act follows work in other Canadian jurisdictions and the United States in harmonizing personal property security agreements. Where possible, the Commission attempts to modify and adopt, rather than replace, existing law.