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Insolvency: Is it on your radar?

This bulletin provides insight into what boards of directors and management need to be aware of when facing insolvency.

The economic conditions resulting from COVID-19 mean a noteworthy jump in insolvencies in 2020 is likely unavoidable. Corporations facing insolvency will have to make critical decisions, while keeping in mind not just the corporation but also the various stakeholders that have an interest in those decisions.

This concise bulletin provides tips for companies to understand:

  • corporate insolvency
  • risk mitigation strategies
  • various regimes and options available in Canada to an insolvent corporation

Key topics include:

  • recognizing insolvency
  • courses of action
  • dealing with the demands of insolvency
  • director duties and liabilities

You will also find practical tips for each of the above topics.