Chapter 47 amends the BIA and CCAA to adopt procedures for dealing with cross-border insolvency proceedings based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law on Cross-border Insolvency (Part XIII of the BIA and Part IV of the CCAA). Under the new provisions, when a Canadian court issues an order recognizing a foreign proceeding, the court must cooperate, to the maximum extent possible, with the foreign representative and the foreign court involved.
Selon les nouvelles dispositions, si un tribunal canadien rend une ordonnance de reconnaissance d’une instance étrangère, il doit collaborer, dans toute la mesure du possible, avec le représentant étranger et le tribunal étranger en cause.