GREY:SMDWF - Post by User
Comment by
BigFatUgly1on May 25, 2016 2:05am
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Post# 24901929
RE:Interesting sections in this link
RE:Interesting sections in this linkBigFatUgly1 wrote: Just not sure what current policy's are as this seems to be items under review? Anyone with more knowledge or better link to current policy's?
https://www.ic.gc.ca/eic/site/cilp-pdci.nsf/eng/cl00873.html
One section I found interesting was this one. Pre-Filing Reports A relatively new development is the monitor's "pre-filing report", which is a description of the debtor company's affairs up to the date of a CCAA filing. The report is prepared for the purposes of the initial application and, hence, prior to the monitor's appointment. Pre-filing reports have been found by the courts and insolvency professionals to be beneficial, as they provide timely information to the court. It has been suggested, however, that the monitor's ability to exercise the requisite attribute of independence, prior to receiving a court appointment, is debatable. It has also been suggested that monitors be precluded from introducing evidence in pre-filing reports. Stakeholders are invited to make submissions regarding whether pre-filing reports should be permitted and, if so, in what circumstances. Now I could be wrong but the way I see this is a report has to be made prior to filing? Anyone correct me on this. I'd like to state I actually still have faith! It will take every avenue and probably a long Fkn time but maybe...just maybe pull this one out of the depths of hell.