Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3)

Marginal note:Claims acquired after date of bankruptcy

• 110. (1) No person is entitled to vote on a claim acquired after the date of bankruptcy in respect of a debtor unless the entire claim is acquired.

• Marginal note:Exception

  (2) Subsection (1) does not apply to persons acquiring notes, bills or other securities on which they are liable.

Marginal note:Creditor secured by bill or note

111. A creditor shall not vote in respect of any claim on or secured by a current bill of exchange or promissory note held by him, unless he is willing to treat the liability to him thereon of every person who is liable thereon antecedently to the debtor, and who is not a bankrupt, as a security in his hands and to estimate the value thereof and for the purposes of voting, but not for the purposes of dividend, to deduct it from his claim.

Marginal note:Voting by secured creditor

112. For the purpose of voting, a secured creditor shall, unless he surrenders his security, state in his proof the particulars of his security, the date when it was given and the value at which he assesses it, and he is entitled to vote only in respect of the balance, if any, due to him, after deducting the value of his security.

Marginal note:Trustee may vote

• 113. (1) If the trustee is a proxyholder for a creditor, the trustee may vote as a creditor at any meeting of creditors.

• Marginal note:Trustee’s vote not to count in respect of certain resolutions

  (2) The vote of the trustee — or of the partner, clerk or legal counsel of the trustee, or of the clerk of the legal counsel of the trustee — as proxyholder for a creditor, shall not be counted in respect of any resolution affecting the remuneration or conduct of the trustee.

• Marginal note:Persons not entitled to vote

  (3) The following persons are not entitled to vote on the appointment of a trustee — and except with the permission of the court and on any condition that the court may impose, the following persons are not entitled to vote on the appointment of inspectors:

  • (a) the father, mother, child, sister, brother, uncle or aunt, by blood, adoption, marriage or common-law partnership, or the spouse or common-law partner, of the bankrupt;

  • (b) where the bankrupt is a corporation, any officer, director or employee thereof; and

  • (c) where the bankrupt is a corporation, any wholly owned subsidiary corporation or any officer, director or employee thereof.