This paper examines the workings of the Companies Creditors Arrangement Act, including issues surrounding the threshold for CCAA relief and the practical process for obtaining that relief. It also addresses the role of a “Monitor” in CCAA proceedings, and considers how that role may evolve depending upon the facts of a particular case. Finally, it considers the more common forms of CCAA restructurings.

Added bonus: Bankruptcy 101 Glossary of terms by Craig McMahon, Field LLP, providing an alphabetical list of typical bankruptcy-related terms and a concise explanation of each.

This paper was presented at the Bankruptcy Seminar in January, 2014.