Manoeuvring Through the Insolvency Maze-Shifting Stakeholder Identities and Implications for CCAA Restructurings

Research output: Articlepeer-review


This article suggests that the current challenges for insolvency law in Canada are akin to a maze, a complex multicursal puzzle with choices of path and direction. A maze has complex branching passages through which the solver must find a route. It is distinguishable from a labyrinth, which is a single through-route with twists and turns that lead to a centre. A maze can offer multiple paths that create false starts and take the pathfinder away from the desired objective. Mazes and algorithms to create mazes can be organized along seven different classifications that combine to create the puzzle: dimension, hyperdimension, topology, tessellation, routing, texture, and focus. An analogy from these aspects of mazes can be drawn to the public policy questions regarding Canadian insolvency law. It faces a series of potential paths in response to rapid market changes. This article raises some questions we need to ask, before we can negotiate the maze-like challenges and begin to design responsive policy options.
Original languageEnglish
Pages (from-to)155-178
JournalBusiness & Finance Law Review
Issue number1
Publication statusPublished - 2011

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