GREY:XEBEQ - Post by User
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WildlyBullishon Oct 04, 2022 8:46pm
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The CCAA
The CCAA The Companies’ Creditors Arrangement Act (CCAA) is a federal law that applies to insolvent corporations that owe in excess of $5 million. The law gives these companies short-term protection from their creditors so they can restructure their businesses and financial affairs.
The main purpose of the CCAA is to enable financially distressed companies to avoid bankruptcy, foreclosure or the seizure of assets while maximizing returns for their creditors and preserving both jobs and the company’s value as a functioning business.
https://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br03125.html