TY - JOUR
T1 - Manoeuvring Through the Insolvency Maze-Shifting Stakeholder Identities and Implications for CCAA Restructurings
AU - Sarra, Janis P.
PY - 2011
Y1 - 2011
N2 - 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.
AB - 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.
KW - Canada
KW - Insolvency
KW - Secured loans
KW - Companies Creditors Arrangement Act
UR - https://ssrn.com/abstract=1967235
M3 - Article
VL - 27
SP - 155
EP - 178
JO - Business & Finance Law Review
JF - Business & Finance Law Review
IS - 1
ER -