Bankruptcy and Insolvency Act (R.S.C., 1985, c. B-3)

Marginal note:Court may declare that stays, etc., cease

69.4 A creditor who is affected by the operation of sections 69 to 69.31 or any other person affected by the operation of section 69.31 may apply to the court for a declaration that those sections no longer operate in respect of that creditor or person, and the court may make such a declaration, subject to any qualifications that the court considers proper, if it is satisfied

• (a) that the creditor or person is likely to be materially prejudiced by the continued operation of those sections; or

• (b) that it is equitable on other grounds to make such a declaration.