Federal Law–Civil Law Harmonization Act, No. 2 (S.C. 2004, c. 25)
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Assented to 2004-12-15
PART 1AMENDMENTS TO CERTAIN ACTS
R.S., c. B-3; 1992, c. 27, s. 2Bankruptcy and Insolvency Act
59. Subsection 98(1) of the English version of the Act is replaced by the following:
Marginal note:Recovering proceeds if transferred
98. (1) If a person has acquired property of a bankrupt under a transaction that is void or voidable and set aside or, in the Province of Quebec, null or annullable and set aside, and has sold, disposed of, realized or collected the property or any part of it, the money or other proceeds, whether further disposed of or not, shall be deemed the property of the trustee.
60. Subsection 99(1) of the Act is replaced by the following:
Marginal note:Dealings with undischarged bankrupt
99. (1) All transactions by a bankrupt with any person dealing with the bankrupt in good faith and for value in respect of property acquired by the bankrupt after the bankruptcy, if completed before any intervention by the trustee, are valid against the trustee, and any estate, or interest or right, in the property that by virtue of this Act is vested in the trustee shall determine and pass in any manner and to any extent that may be required for giving effect to any such transaction.
Marginal note:1997, c. 12, s. 82(1)
61. The portion of subsection 101(2) of the English version of the Act before paragraph (a) is replaced by the following:
Marginal note:Judgment against directors
(2) If a transaction referred to in subsection (1) has occurred, the court may give judgment to the trustee against the directors of the corporation, jointly and severally, or solidarily, in the amount of the dividend or redemption or purchase price, with interest on the amount, that has not been paid to the corporation if the court finds that
Marginal note:1997, c. 12, s. 83
62. Section 101.2 of the Act is replaced by the following:
Marginal note:Provisions to apply
101.2 Sections 91 to 101 apply as though the debtor became bankrupt on the date of the initial bankruptcy event if the proposal is annulled either by the court under subsection 63(1) or as a result of a bankruptcy order or assignment.
63. (1) Subsection 109(4) of the English version of the Act is replaced by the following:
Marginal note:Debtor may not be proxyholder
(4) A debtor may not be appointed a proxyholder to vote at any meeting of the debtor’s creditors.
(2) Subsection 109(5) of the Act is replaced by the following:
Marginal note:Corporation
(5) A corporation may vote by an authorized proxyholder at meetings of creditors.
64. Subsection 113(2) of the Act is replaced by the following:
Marginal note:Trustee may not vote on remuneration
(2) The vote of the trustee or of their partner, clerk, legal counsel or legal counsel’s clerk, either as creditor or as proxy for a creditor, shall not be reckoned in the majority required for passing any resolution affecting the remuneration or conduct of the trustee.
65. Subsection 120(3) of the French version of the Act is replaced by the following:
Marginal note:Fonctions des inspecteurs
(3) Les inspecteurs vérifient le solde en banque de l’actif, examinent ses comptes, s’enquièrent de la suffisance de la garantie fournie par le syndic et, sous réserve du paragraphe (4), approuvent l’état définitif des recettes et des débours préparé par le syndic, le bordereau de dividende et la disposition des biens non réalisés.
66. Subsection 122(2) of the English version of the Act is replaced by the following:
Marginal note:Interest
(2) If interest on any debt or sum certain is provable under this Act but the rate of interest has not been agreed on, the creditor may prove interest at a rate not exceeding five per cent per annum to the date of the bankruptcy from the time the debt or sum was payable, if evidenced by a written document, or, if not so evidenced, from the time notice has been given the debtor of the interest claimed.
67. Subsection 127(2) of the French version of the Act is replaced by the following:
Marginal note:Peut prouver sa réclamation entière sur renonciation
(2) Lorsqu’un créancier garanti renonce à sa garantie en faveur du syndic au profit des créanciers en général, il peut établir la preuve de sa réclamation entière.
Marginal note:1992, c. 27, s. 51(1)
68. Subsection 128(1.1) of the French version of the Act is replaced by the following:
Marginal note:Défaut de réponse
(1.1) Faute par la personne, à laquelle le syndic a fait signifier l’avis, d’avoir produit une preuve de sa garantie dans les trente jours suivant cette signification, le syndic peut, sur permission du tribunal, aliéner les biens visés, ceux-ci étant dès lors libres de toute garantie.
69. Subsection 129(4) of the French version of the Act is replaced by the following:
Marginal note:Frais de vente
(4) Les frais occasionnés par une vente faite sous l’autorité du présent article sont à la discrétion du tribunal.
70. (1) Paragraph 136(1)(a) of the Act is replaced by the following:
(a) in the case of a deceased bankrupt, the reasonable funeral and testamentary expenses incurred by the legal representative or, in the Province of Quebec, the successors or heirs of the deceased bankrupt;
Marginal note:2001, c. 4, s. 31
(2) Paragraph 136(1)(e) of the Act is replaced by the following:
(e) municipal taxes assessed or levied against the bankrupt, within the two years immediately preceding the bankruptcy, that do not constitute a secured claim against the real property or immovables of the bankrupt, but not exceeding the value of the interest or, in the Province of Quebec, the value of the right of the bankrupt in the property in respect of which the taxes were imposed as declared by the trustee;
Marginal note:1997, c. 12, s. 90(3)(F)
(3) Paragraph 136(1)(f) of the English version of the Act is replaced by the following:
(f) the lessor for arrears of rent for a period of three months immediately preceding the bankruptcy and accelerated rent for a period not exceeding three months following the bankruptcy if entitled to accelerated rent under the lease, but the total amount so payable shall not exceed the realization from the property on the premises under lease, and any payment made on account of accelerated rent shall be credited against the amount payable by the trustee for occupation rent;
71. Section 144 of the Act is replaced by the following:
Marginal note:Right of bankrupt to surplus
144. The bankrupt, or the legal personal representative or heirs of a deceased bankrupt, is entitled to any surplus remaining after payment in full of the bankrupt’s creditors with interest as provided by this Act and of the costs, charges and expenses of the bankruptcy proceedings.
72. Section 146 of the English version of the Act is replaced by the following:
Marginal note:Application of provincial law to lessors’ rights
146. Subject to priority of ranking as provided by section 136 and subject to subsection 73(4), the rights of lessors shall be determined according to the laws of the province in which the leased premises are situated.
73. Paragraph 158(l) of the Act is replaced by the following:
(l) execute any powers of attorney, transfers, deeds and instruments or acts that may be required;
74. Section 160 of the English version of the Act is replaced by the following:
Marginal note:Performance of duties by imprisoned bankrupt
160. If a bankrupt is undergoing imprisonment, the court may, in order to enable the bankrupt to attend in court in bankruptcy proceedings at which the bankrupt’s personal presence is required, to attend the first meeting of creditors or to perform the duties required of the bankrupt under this Act, direct that the bankrupt be produced in the protective custody of an executing officer or other duly authorized officer at any time and place that may be designated, or it may make any other order that it deems proper and requisite in the circumstances.
Marginal note:1997, c. 12, s. 95
75. Subsection 161(1) of the French version of the Act is replaced by the following:
Marginal note:Interrogatoire du failli par le séquestre officiel
161. (1) Avant la libération du failli, le séquestre officiel, lorsque celui-ci se présente devant lui, l’interroge sous serment sur sa conduite, les causes de sa faillite et la disposition de ses biens, et lui pose les questions prescrites ou des questions au même effet, ainsi que toutes autres questions qu’il peut juger opportunes.
76. Subsection 162(1) of the French version of the Act is replaced by the following:
Marginal note:Enquête par le séquestre officiel
162. (1) Le séquestre officiel peut, et sur les instructions du surintendant doit, effectuer ou faire effectuer toute enquête ou investigation qui peut être estimée nécessaire au sujet de la conduite du failli, des causes de sa faillite et de la disposition de ses biens, et le séquestre officiel fait rapport des conclusions de toute enquête ou investigation de ce genre au surintendant, au syndic et au tribunal.
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