Difference between revisions of "Introduction to Creditors' Remedies (10:I)"

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Introduction to Creditors' Remedies (10:I) (view source)

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{{LSLAP Manual TOC|expanded = creditors}}
{{LSLAP Manual TOC|expanded = creditors}}


== A. Governing Legislation ==
== A. Introduction to Creditors’ Remedies ==
 
''Bankruptcy and Insolvency Act'', RSC. 1985, c. B-3 as am. by SC 1992, c 27 and SC 1997, c 12.
 
''Builders Lien Act'', SBC 1997, c 45.
 
''Business Practices and Consumer Protection Act'', SBC 2004, c 2.
 
''Business Practices and Consumer Protection Authority Act'', SBC 2004, c 2.
 
''Court Order Enforcement Act'', RSBC 1996, c 78.
 
''Creditor Assistance Act'', RSBC 1996, c 83.
 
''Family Maintenance Enforcement Act'', RSBC 1996, c 127
 
''Interest Act'', RSC. 1985, c I-18.
 
''Limitation Act'', SBC 2012 c 13
 
''Personal Property Security Act'', RSBC 1996, c 359.
 
''Pension Benefits Standards Act'', RSBC 1996, c 352.
 
''Repairers Lien Act'', RSBC 1996, c 404.
 
''Sale of Goods Act'', RSBC 1996, c 410
 
''Wage Earner Protection Program Act'', SC 2005, c 47, s 1.
 
''Warehouse Lien Act'', RSBC 1996, c 480
 
''Winding-up and Restructuring Act'', RSC 1996, c 6.
 
While matters involving bankruptcy or insolvency should almost always be referred to an insolvency practitioner, students offering advice in  this area should ensure that the advice is up-to-date in accordance with the applicable insolvency legislation. Always refer to the legislation directly. Given the number of applicable statutes and regulations, the law in this area is frequently subject to change.
 
== B. Introduction to Creditors’ Remedies ==


There are legal remedies available to creditors to enforce a debt, but the related procedures are frequently time-consuming and potentially costly, and there is no guarantee that the creditor will actually receive all of the funds owed. The most important reason for starting civil proceedings to collect a debt is to permitthe creditor to execute on their judgment. Such execution proceedings may include:  
There are legal remedies available to creditors to enforce a debt, but the related procedures are frequently time-consuming and potentially costly, and there is no guarantee that the creditor will actually receive all of the funds owed. The most important reason for starting civil proceedings to collect a debt is to permitthe creditor to execute on their judgment. Such execution proceedings may include:  
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