What is Companies’ Creditors Arrangement Act (CCAA)?
What is Companies’ Creditors Arrangement (CCAA)?
The Companies’ Creditors Arrangement (”CC, double A” or “CCAA”) was legislated by the Government of Canada during the depression of the 1930’s. The Act allows financially troubled companies to file for financial and business restructuring.
Under CCAA a financially distressed company (also referred to as the “Debtor”) tries to [...]