STAY OF PROCEEDINGS
Marginal note:Effect of stay of proceedings
12. Notwithstanding any other law, during any period in which a stay of proceedings is in effect, no creditor of the farmer
(a) shall enforce any remedy against the property of the farmer; or
(b) shall commence or continue any proceedings or any action, execution or other proceedings, judicial or extra-judicial, for the recovery of a debt, the realization of any security or the taking of any property of the farmer.
Marginal note:Extension of stay of proceedings
13. (1) Where the administrator considers an extension of the thirty day period referred to in paragraph 7(1)(b) to be essential to the formulation of an arrangement between a farmer and the farmer’s creditors, the administrator may, subject to the regulations, extend that period for a maximum of three further periods of thirty days each.
Marginal note:Interim extension of stay
(a) there is an appeal under section 15 from a decision of the administrator not to extend a stay of proceedings, and
(b) the stay of proceedings expires before the appeal is decided,
the administrator shall, on that expiration, extend the stay of proceedings until the appeal is decided.
Marginal note:Notice to creditors
(3) The administrator shall give notice of any extension granted under subsection (1) or (2) to the farmer and to each creditor listed in the farmer’s application.
Marginal note:Where appeal successful
(4) Where, pursuant to an Appeal referred to in paragraph (2)(a), the Appeal Board reverses the administrator’s decision, the resulting thirty day extension of the stay of proceedings starts at the expiration of the original stay of proceedings, or at the expiration of the previous thirty day extension thereof, as the case may be.
- 1997, c. 21, s. 13;
- 2015, c. 2, s. 145.
Marginal note:Obligatory termination of stay of proceedings
14. (1) If the administrator determines, pursuant to paragraph 7(1)(c), that the farmer is not eligible to make the application, the administrator shall direct that the stay of proceedings be terminated.
Marginal note:Discretionary termination of stay of proceedings
(2) If the administrator is of the opinion, based on information received from the mediator or from any other source, that
(a) either the farmer or the majority of the creditors listed in the application
(i) refuse to participate in the mediation, or
(ii) refuse to continue to participate in good faith in the mediation,
(b) the mediation will not result in an arrangement between the farmer and the majority of the creditors listed in the application,
(c) the farmer has contravened any directive issued to the farmer by the administrator pursuant to subsection 17(1), or
(d) the farmer has, by any act or omission, jeopardized his or her assets or obstructed the guardian in the performance of the guardian’s duties under subsection 17(2),
the administrator may direct that the stay of proceedings be terminated.
Marginal note:Notice of termination
(3) If the administrator directs that a stay of proceedings be terminated under subsection (1) or (2), the administrator shall inform the farmer, all of the creditors listed in the application and the Minister, if the Minister was given notice of the application by the administrator under subparagraph 7(1)(a)(iii).
Marginal note:When termination takes effect
(4) Where the administrator directs, pursuant to subsection (1) or (2), that a stay of proceedings be terminated, the termination takes effect
(a) on the expiration of the time prescribed for making an appeal under section 15; or
(b) where an appeal is made under section 15, if and when the appeal is dismissed.
Marginal note:Automatic termination of stay of proceedings
(5) A stay of proceedings terminates on
(a) the signing of an arrangement under section 19; or
(b) the farmer’s making an assignment under the Bankruptcy and Insolvency Act.
- 1997, c. 21, s. 14;
- 2015, c. 2, s. 146.
- Date modified: