Bankruptcy and Insolvency Act
84.1 (1) The court may, on application by an insolvent person or a trustee, make an order assigning the rights and obligations of the insolvent person under any agreement to any person, specified by the court, who has agreed to the assignment.
(2) The applicant must give notice of the assignment, in the prescribed manner, to every party to the agreement.
(3) Subsection (1) does not apply in respect of rights and obligations
(a) under an eligible financial contract;
(b) under a lease referred to in subsection 65.2(1);
(c) under a collective agreement; and
(d) that are not assignable by reason of their nature.
Marginal note:Factors to be considered
(4) In deciding whether to make an assignment, the court must consider, among other things,
(a) whether the person to whom the rights and obligations are to be assigned would be able to perform the obligations; and
(b) whether it would be appropriate to assign the rights and obligations to that person.
(5) The court may not make the assignment if the court is satisfied that the insolvent person is in default under the agreement.
- 2005, c. 47, s. 68
- 2007, c. 29, s. 97
- Date modified: