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Commercial insolvency in Canada has options and procedures that are distinct from those available in consumer insolvency proceedings. It is governed by the following statutes: : * The ''Bankruptcy and Insolvency Act'' ("BIA") : * The ''Companies' Creditors Arrangement Act'' ("CCAA") : * The ''Winding-Up and Restructuring Act'' The following discussion concentrates on insolvency as it applies to corporations, but the rules apply to individuals and other entities involved in commercial matters as well, with necessary modifications. ==Financial difficulties prior to insolvency== Provincial legislation under the property and civil rights power of the Constitution Act, 1867 regulates the resolution of financial difficulties that occur before the onset of insolvency, and the BIA incorporates many of them by reference in the application of its provisions. Notable legislation is in effect for governing: : * absconding debtors : * bulk sales (in Ontario only) : * fraudulent conveyances : * relief of creditors : * seizure of assets As well, corporate directors have a statutory duty of loyalty to the corporation and a duty of care to all of its stakeholders. It follows that directors have a duty to ensure that their corporation carries on business only if it can meet its liabilities as they become due and if there is a reasonable expectation of newly incurred obligations being satisfied. 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Commercial insolvency in Canada」の詳細全文を読む スポンサード リンク
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