Bankruptcy and Insolvency Act

Marginal note:Purpose

267 The purpose of this Part is to provide mechanisms for dealing with cases of cross-border insolvencies and to promote

• (a) cooperation between the courts and other competent authorities in Canada with those of foreign jurisdictions in cases of cross-border insolvencies;

• (b) greater legal certainty for trade and investment;

• (c) the fair and efficient administration of cross-border insolvencies that protects the interests of creditors and other interested persons, and those of debtors;

• (d) the protection and the maximization of the value of debtors’ property; and

• (e) the rescue of financially troubled businesses to protect investment and preserve employment.