Note on Legal Aspects of Secured Lending in Canada
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Article originally published by Ivey Publishing:
In Canada, when companies become financially insolvent, a legal framework dictates the process by which such companies can either restructure their operations and financing arrangement to continue in operation or can liquidate their assists and wind up their affairs. While debt restructuring plays an important role in Canada’s bankruptcy and insolvency process, this note focuses on the legal aspects of secured lending and the process that lenders employ to protect themselves in the event of a debtor becoming in financial difficulty.
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