Canada Articles of Reorganization
Articles of reorganization are issued under the provisions of Federal and Provincial Business Corporations Act. They are used almost exclusively in the context of an insolvent corporation that is restructuring through a commercial proposal in bankruptcy under Bankruptcy and Insolvency Act, or a plan of arrangement under the Companies’ Creditors Arrangement Act.
The court must approve the articles of reorganization before the articles are filed under Federal or Provincial Business Corporation Act. Upon filing, the Directorregistries office issues a certificate of reorganization.
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