Bankruptcy and Insolvency Act

Public post-secondary educational institutions excluded from 'corporation' definition in bankruptcy law

The definition of 'corporation' in the Bankruptcy and Insolvency Act has been updated to explicitly exclude 'prescribed public post-secondary educational institutions.' This means those institutions, once designated b…

Digital Services Tax Act removed from list of tax laws trustees must account for in bankruptcies

The Digital Services Tax Act has been repealed from the list of federal tax statutes that a bankruptcy trustee must account for before distributing dividends to creditors. Previously, trustees were required to hold ba…