Bankruptcy and Insolvency Act

Marginal note:Time for determining claims

• 66.28 (1) The time with respect to which the claims of creditors shall be determined is the time of the filing of the consumer proposal.

• Marginal note:On whom approval binding

  (2) A consumer proposal accepted, or deemed accepted, by the creditors and approved, or deemed approved, by the court is binding on creditors in respect of

  • (a) all unsecured claims, and

  • (b) secured claims for which proofs of claim have been filed in the manner provided for in sections 124 to 134,

  but does not release the consumer debtor from the debts and liabilities referred to in section 178, unless the creditor assents thereto.

• Marginal note:Certain persons not released

  (3) The acceptance of a consumer proposal by a creditor does not release any person who would not be released under this Act by the discharge of the consumer debtor.