Rescue! The Companies' Creditors Arrangement Act, 2nd ed

The Companies' Creditor Arrangement Act (CCAA) is an extraordinary statute, enabling insolvent companies and other forms of business enterprise to restructure to survive. It has been used in every major Canadian restructuring in the past quarter century. The going-forward solution to a firm's financial distress depends on the reasons for insolvency, the firm's capital structure, viability of its business plan, effectiveness of its directors and officers, and the availability of capital to refinance or purchase the business.