In a post last year entitled "North Of The Border: Reorganization Under Canada’s Companies’ Creditors Arrangement Act," I discussed the various types of bankruptcy and insolvency proceedings available under Canadian law. Included in the discussion was the Companies’ Creditors Arrangement Act, known as the CCAA, used by many Canadian companies to reorganize. At that time, although significant amendments had been enacted to the CCAA and other Canadian bankruptcy laws, those amendments had not "come into force," the final act necessary under the Canadian system before the changes in the law would become effective.

That changed on September 18, 2009, when these revisions to the CCAA and to the Bankruptcy and Insolvency Act, or BIA, finally came into force (joining a few other changes that came into force in July 2008). Canadian bankruptcy law has now been modified in a number of important ways, applicable to cases filed going forward.

For more on the new law, and Canadian bankruptcy issues generally, be sure to check out the website of the Office of the Superintendent of Bankruptcy Canada.