Preface to the second edition

• Author: Roderick J. Wood
• Pages: 29-31

xxix

PR EFACE

to the Second Edition

Canadian ba nkruptcy and insolvency law continues to evolve at a rapid

pace. However, there has been a signif‌icant shift in the type of legal

change that has predominated. When the f‌irst edition of thi s book was

published in 2009, a sweeping set of amendments had been enacted

in 2005 and 2007 but had not yet come into force. The f‌irst edition

incorporated these statutory changes in the anticipation that they

would soon be proclaimed into force, and this was indeed how events

unfolded. Although Industry Canada completed a statutory review in

2014, the next step in the process will involve a parliamentary commit-

tee review and report. As a cons equence, no legislative amendments are

on the immediate horizon. The recent developments in the law h ave

therefore had their source prima rily in the decisions of the courts. Over

the past six years since the publication of the f‌irst edition, numerous

judicial decisions have inter preted the new legislative provisions and

have greatly enhanced our understanding of how these provisions will

operate in actual legal context.

In addition to the work of interpreting new and untested legi slative

provisions, there has been signif‌icant judicia l development of principle

and doctrine. The Supreme Court of Canada ha s been at the forefront

of this process. In 2010, the Court rendered its important decision in

Century Services Inc v Canada (AG)1 that explored the exercise of judi-

cial authority under the Companies’ Creditors Arrangement Act (CCAA).

1 2010 SCC 60.