Insolvency Law in Nova Scotia – Limitations of Actions

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Pamela BrantonBy Pamela Branton

How long can a potential claimant wait before pursuing their claim in Court? Or, at what point has a claim “expired” due to failure to bring a Court action?

The Nova Scotia Limitation of Actions Act has recently been amended to provide for a single across-the-board limitation period to bring a Court action to recover a debt (or any other type of claim). The amendments also removed the various factors that a claimant could use if they did file their claim after the limitation period had expired.

The basic time period in which to start a legal action is two years from the date of discovery of the claim; there are some nuances during the transition period for introduction of the new rules.  Where the claim was not discovered within 15 years after it occurs, the right to start a court action for the claim ceases after the 15 years. This gives closure to claims where they are historical but undiscovered.

There are some exceptions. For example, if another piece of legislation sets out a limitation period, then that specific limitation period overrides the one in the Limitation of Actions Act. Also, for a claim that is based on a demand obligation, the limitation period does not start to run until the demand has been made.

It is important to note that if a debtor acknowledges the debt, the limitation period runs from the time of the acknowledgement. The acknowledgment basically “restarts the clock” and may, in practice, extend the limitation period in some instances. The acknowledgement may be given to a Licensed Insolvency Trustee in the bankruptcy of the claimant as well as to the claimant itself.

The previous Limitations of Actions Act provided that if the claimant brought the Court action after the expiry of the limitation period, the Court might still hear the claim, if the claimant met certain conditions. These were mainly to promote fairness to the claimant, but they also brought a great deal of uncertainty and in some cases unfairness to the defendant.

Those conditions have been removed from the new legislation (other than in claims for personal injury), so that the limitation period is now more “absolute”; if the claimant does not bring the claim to Court within the limitation period, then they will not be able to pursue the claim in Court.

Pamela Branton is a Senior Solicitor with the Nova Scotia Department of Justice. She is currently Vice-Chair of the Bankruptcy Subsection of the Canadian Bar Association, Nova Scotia, has served as a Director of the Canadian Insolvency Foundation, and as the Co-Chair for the Canadian Bar Association’s Pan-Canadian Insolvency and Restructuring Conference held in Halifax in 2012.

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Oil and Gas Reorganizations: From Surviving to Thriving in Challenging Times

Bidboland_gas_refinerymichelle-grant_2014-4By Michelle Grant, CIRP, LIT

Since the price of oil began to slump in mid-2014 oil and gas companies have gone through an intense period of reorganization. In December 2016, EY, in association with the University of Calgary’s Haskayne School of Business — Executive Education, conducted a survey of more than 70 organizations in Canada’s oil and gas industry to gain insight into how those organizations responded to continued low commodity prices. You can access the full report here: Canadian oil and gas reorganizations: From surviving to thriving in challenging times

Key highlights from the survey are summarized below:

  • Actions taken by the survey respondents were focused on providing immediate cost savings including headcount reductions with over 80% of organizations surveyed reducing headcount.
  • The majority of survey respondents that reduced headcount also took the opportunity to restructure internally — shifting work, role changes, streamlining processes or consolidating areas, functions or business units. The internal restructuring initiatives were largely short-term solution focused, more complex solutions such as outsourcing and work elimination were not really considered.
  • Survey respondents that identified the reorganization efforts as successful had these things in common:
    • Strong coordination across the organization, including from HR and Communications
    • Took the time to apply more upfront rigour and discipline
    • Engaged a broader stakeholder group (outside of executive leadership)

The last two years have been very challenging for the oil and gas industry, and these challenges will continue. It is important for organizations to take stock of the changes that have been implemented, measure these changes against the perceived outcome and determine what (if any) additional changes are necessary to move from survival mode to a thriving business again. From EY’s perspective, now is the time to think more strategically about what organizations can do next to address these challenges, focusing on people as drivers of success, and on longer-term sustainable and structural solutions.

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Who said you had to get it (your finances) right the first time?

mam-headshotBy Mary Ann Marriott

We are so hard on ourselves aren’t we? We think we are supposed to get it all right the first time. Relationships! Careers! Finances! Now, tell me, where in the owner’s manual of life does it say you had to get it all right the first time?

As far as I am concerned, whatever age you are when you ‘get it right’ is the right age. Sure, it would be great to figure it out in your twenties or thirties. But in your fifties is better than in your sixties, and so on. I have people of all ages coming to me for advice. Some learn early, some not so much. And it is nothing to be ashamed of.

It will be OK when….

We get into financial trouble for a lot of reasons. Sometimes it is a product of our upbringing – you can only really learn what you are exposed to, so if your parents (or other role models) were not-so-good with money, how could you expect to be?

Sometimes we just lean on the side of optimism (an admirable trait, but one that can lead to temporary blindness, a.k.a avoidance). You overspend or use too much credit assuming you will be OK when you get a job, get more work, get your tax refund, the kids move out, etc., etc.

And sometimes it is simply poor decision-making. The salesperson made it sound like you could afford it, the bank told you that you qualify for that level of mortgage…

The reason you are in financial trouble doesn’t matter so much, it is what you are going to do about it that is paramount. But doing something about it does depend on knowing what the issue was that led to the situation.banner-img

But what can I do?

The most important thing you can do is make the decision to turn your finances around. Often that starts by asking others for help. And by taking an inventory of your options.

If it isn’t completely obvious, you need to determine where your challenges lie. Do you impulsively spend, leaving you short for every day/month expenses.? Try Setting up a simple three-step spending plan. Do you rely on credit to make ends meet each month? If so, you need to put a plan in place to live within your means. Maybe you have absolutely no idea where your money goes, in which case tracking your expenses is a crucial first step.

The key is to take action. If you ignore the problem, I guarantee you, it will NOT fix itself. There is always a solution. Sometimes, you just need a helping hand to show you the way.

It is never a bad idea to talk to a Licensed Insolvency Trustee (LIT). They are the go-to professionals when you need advice about debt and the first consultation with an LIT is always free. An LIT is the only professional who can show you all options when it comes to dealing with financial difficulty.

To find an LIT near you, visit http://www.cairp.ca/find-a-cirp

Mary Ann Marriott, CIRP, is a Licensed Insolvency Trustee with Allan Marshall & Associates Inc. and services their Halifax and Bridgewater locations in Nova Scotia. She is passionate about helping others succeed financially and regularly provides workshops, presentations and social media posts on this topic. You can find her on Twitter as @Dr_Debt_NS.

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The Women of Insolvency – Standing Out Across Canada

michelle-grant_2014-4By Michelle Grant, CIRP, LIT

The fall/winter 2016 issue of Rebuilding Success – CAIRP’s biannual magazine – features four women in the insolvency profession who are “Standing Out”. I thought I would take an opportunity to highlight some additional female CAIRP members who are standing out, giving Chartered Insolvency and Restructuring Professionals (CIRP) a great reputation in the business community and beyond.

I asked CAIRP to send an e-mail to the membership requesting input. I received a few submissions and I added in a few that I am aware of. This is by no means an exhaustive list; I know there are more of us out there doing great things, so I am hoping we can start a conversation.ci62c_cover

Women are often less inclined to “toot their own horn” so I really encourage others to let me know if there is someone out there doing a great thing. I would like to write about it.

Here’s a brief snapshot of the stories our membership shared:

  • Michelle Pickett, a partner at PricewaterhouseCoopers LLP in Toronto, was a recipient of the Fetner Award for exceptional contributions by an international member of the International Women’s Insolvency & Restructuring Confederation (IWIRC). Michelle is the past-chair of the Ontario Chapter of IWIRC and she is currently IWIRC’s Canadian Networks Director.
  • Debbie Conroy, a senior manager at Ernst & Young Inc. in Montreal, was a key member of the organizing committee for the CAIRP Annual Conference that took place in Montreal earlier this year. She did an excellent job in her role as organizer and was a poised presenter at the conference.
  • Jennifer Pede, a senior manager at PricewaterhouseCoopers LLP in Edmonton, who is just back from maternity leave, is already right back in the thick of things as IWIRC Western Canada’s Vice-Chair. She is tirelessly promoting the network and has grown the chapter in Edmonton significantly over the past few years.
  • Rhonda Fox-Miles and Rebecca Frederick, two Licensed Insolvency Trustees (LIT) who went out on their own in Edmonton are making a real difference in communities that really need the advice of an LIT these days.
  • Roxanne Anderson with March Advisory Transformation and Turnaround services was named as one of the top five turnaround specialists in Canada by Canadian Business magazine. Roxanne is an avid promoter of Mental Wellness and its importance to society. She is currently the Chair of the University of Ottawa’s Institute for Mental Health and a member of the Royal Ottawa’s Campaign Cabinet as well a member of the Royal’s Women for Mental Health.
  • Robyn White is a senior manager at Liquid Capital Corp. She’s one of a few women out in industry that maintains her CIRP designation as well as her LIT.

Let’s keep the conversation going!

Michelle Grant (michelle.grant@ca.ey.com)

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Protecting Yourself is Key When Helping Friends and Family with Debt

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By Daniel Budd, CIRP, LIT, CAIRP Financial Literacy Champion

As a Licensed Insolvency Trustee (LIT), one informal role I often find myself taking on is that of family counselor. While this is not specifically something we train for as Chartered Insolvency and Restructuring Professionals (CIRP), it comes with the territory – unfortunately when finances get strained, so too do many relationships.

When a friend or family member is under financial stress, our natural instinct is to want to help. Obviously, when one family member’s cash flow becomes strained an additional burden can be placed on the rest of the family. That can lead to a deterioration of relationships, and it’s important to know how to avoid getting into an uncomfortable situation.

Protecting yourself (and as a result your family)

We frequently see unmanageable debt being placed on a family by a relative, often when a family member co-signs or guarantees an obligation for a relative without looking at their own risk.

We all want the best for our families, but, if by helping out a relative we are hurting ourselves, sometimes it is important to make the “selfish” choice. That being said, you can still help out your family while ensuring you are not also hurting yourself. That means taking a critical look over your own budget and finances before you agree to lend your signature to help someone else out of difficulty. Make sure that if they can’t pay, you can, because if you cannot, now you are putting yourself and your immediate family in hot water.

Lending your name

Whenever you lend your name to a guarantee or obligation related to someone else’s debt, it is vital that you understand the implications of that signature. If they don’t pay, you will have to, which is the nature of the help you’re committing to give.

Where people often do not understand their exposure is when they allow friends or family to use their name to set up businesses or accounts because their own credit is not good enough, or because they already have debt trouble.

The usual result here is that the “nice guy” or person who is helping their friend / family ends up being responsible for a litany of obligations including but not limited to, excise taxes, (GST, HST, QST), payroll taxes, employee wages, and environmental issues, to name but a few.

Generosity also means shared responsibility

These helpers tend not to be involved with the business they are helping, but in the eyes of the government and creditors, they share equal, if not full responsibility.

Even worse, we see people who use their friends or family to move assets around to try and hide them from creditors or the government. The end result here can be a hefty legal bill to protect the “transactions” and / or a tax implication for having received a benefit without having paid for it.

No matter what, when looking to help out your friends and family, think long and hard and make sure you aren’t hurting yourself. Saying “no” might seem cruel or heartless, but if you really don’t have the means to help, or helping means stretching yourself too thin, you have to consider your own situation first.

After all, in the long run you are going to be in a better position to help a family member or friend in many other ways if you yourself are financially stable. It’s not selfish – it’s smart.

Daniel Budd, CIRP, LIT received his Trustee licence in 2014 and has been practicing with M. Diamond & Associates Inc. in Montreal ever since. Daniel is currently one of Canada’s youngest Licensed Insolvency Trustees and sits on the New Members’ Committee of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP).

 

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“Debtors’ Prison” and Other Misconceptions About Bankruptcy

 

mam-headshotBy Mary Ann Marriott, CIRP, LIT

There are two BIG misconceptions that I hear about debt and bankruptcy on a regular basis.

One is the belief that if you do not pay your bills, you could be shipped off to jail. This belief stems from the historical existence of “debtor’s prison,” which was a reality in the 19th century.

Conviction usually occurred after a court-ordered monetary judgement was issued but remained unpaid. Debtors had two options – they could pay the judgement with the help of family or friends or be sent to a “workhouse,” where their labour would help pay back the amount owed.

The emergence of bankruptcy law over the past century has eliminated the debtors’ prison throughout most of the world, in favour of a system that seeks to financially rehabilitate and grant a fresh start to debtors while considering the rights of creditors as well.

Can you still go to jail for just being in debt?

It is true that jail time is possible for certain debts not paid, but these are typically court-imposed fines and not debts incurred under normal circumstances. Such debts are generally not released under a bankruptcy filing (see Section 178 of the Bankruptcy and Insolvency Act) and are required to be paid regardless of your solvency situation.

In my research on the topic, I was surprised to find a recent article on Huffington Post that described a class-action suit was taken against Benton County (Washington) in June of this year over its unconstitutional system for collecting court-imposed debts.

The attorney stated, at the conclusion of the trial, that “(They were) very pleased that Benton County has stopped operating a modern-day debtors’ prison. No one should have to go to jail or perform manual labor simply because they are too poor to pay their fines,” The full article is available here.

For a more local feel, if the history of debtor’s prisons in Canada intrigues you, you can find some interesting facts on Wikipedia here.

Bankruptcy – the easy way out?

The second misconception is that bankruptcy is the easy way out from paying your debts. In some cases, the process is, yes, arguably easy… for those who have nothing. For others, it is not quite as simple as walking away with all debts expunged.

In bankruptcy, you have to pay back at least a portion of your debt with payments based on your income and creditors are still entitled to some of your assets. If you don’t abide by the rules of the system, you can either be in bankruptcy a very long time or can find yourself essentially kicked out of the process (left undischarged), opening up the door for your creditors to continue collecting from you.

In summary, sometimes life happens. Paying your debts may become impossible. There are systems in place to help individuals who find themselves in that situation. Fair and democratic systems in which we, as Licensed Insolvency Trustees, are there to balance the needs and rights of creditors and debtors. No other professional has that mandate. It is why we are the go-to-professionals in the industry.

If you need to see a trustee, visit CAIRP’s website to find a Chartered Insolvency and Restructuring Professional (CIRP), the recognizable symbol of integrity, education and professionalism of the insolvency and restructuring profession.

You can also visit the Find a Trustee section of the Office of the Superintendent of Bankruptcy’s website.

Mary Ann Marriott, CIRP, is a Licensed Insolvency Trustee with Allan Marshall & Associates Inc. and services their Halifax and Bridgewater locations in Nova Scotia. She is passionate about helping others succeed financially and regularly provides workshops, presentations and social media posts on this topic. You can find her on Twitter as @Dr_Debt_NS.

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Living Within Your Means = Meaningful Living

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mam-headshotBy Mary Ann Marriott, CIRP, LIT

In today’s age of consumerism it is easy to live beyond your means. Every time you turn around, you face some type of advertising message telling you that you can have more, spend more, be more. “Live today, pay tomorrow!” is the message we hear.

What those messages don’t tell you is how much stress comes along with that lifestyle. Sure, it feels good for a while, but eventually the ‘pay-later’ part comes along. Not only are you unable to live beyond your means to which you have become accustomed, now you have to adjust your living level to “below your means” to pay for the lifestyle you enjoyed for those years. Anyone who has been there will tell you that it creates a lot of stress and fear.

So what happens if things got out of hand? If you are faced with a financial mess that needs major help, now?

The very first step is awareness. No matter what stage you are in, you need to assess the severity of the situation. I offer two examples:

Example 1: catching it early

My friend came to me recently for advice. She is not in trouble but she knows that she spends way too much and as a result, saving is taking a back seat. Our 50th birthdays loom on the horizon and retirement is on the radar, so, she wanted to reign things in. She said she wanted to set up a “budget” but in her case, it was much more important for her to see where her money was going.

We started by setting her up on a simple spending tracking program. Personally I like Mint (www.mint.com) as I am a self-described “lazy budgeter” and I like technology that does the work for me. You can link Mint to your accounts, and everything you spend gets downloaded and assigned to a category. Voila! Instant feedback on where your money is going. (Disclaimer: I do not exclusively endorse Mint, please do your research and decide if it is the tool for you.)

Example 2: I need help yesterday!

A client came to me because “payday” caught up with her and her family. The debt was massive and the choice was coming down to either paying the bills or feeding the family. Not a nice choice to have to make. She recognized that they made some bad choices and simply stopped paying attention. And they were willing to make some hard decisions.

In their case, I set them up with  a 3-step spending plan.

The first priority was to pay monthly bills, including minimum payments on credit. We set those up to come out automatically from their main account. It was essential that they make only the minimum payments until we assessed their ability to pay more and pay off the debt more quickly. They left a percentage of each pay in this account to cover what was coming out automatically or what they paid online (utilities, etc.)

The second step was to transfer a small amount to cover things that come up sporadically. I call this the “occasional fund” account and it covers things like car repairs, back to school costs, etc. You know, the expenses that DO come up, it is just a matter of when. If there is no ability to plan for these, every time one comes up, it sets you back financially.

The third step was to transfer the remaining amount from each of their paycheques to another account for “spending”. This was the cash they had for the period for gas, groceries and miscellaneous expenses.

In this case, I did add a fourth step and that was to cut themselves a little slack as they got used to living this way. I told them if they needed to go into their occasional expense account for necessities, that was OK, but we would monitor it to see what could be changed to stop this from happening on a regular basis.

There are always solutions. The above examples are early interventions, but sometimes more drastic measures need to be taken, like pulling equity out of your home, offering a settlement of debt if there is absolutely no way to pay the full amount, or availing yourself to the bankruptcy process so you can get a fresh start. It pays to seek professional advice. You don’t have to face it alone.

Mary Ann Marriott, CIRP, is a Licensed Insolvency Trustee with Allan Marshall & Associates Inc. and services their Halifax and Bridgewater locations in Nova Scotia. She is passionate about helping others succeed financially and regularly provides workshops, presentations and social media posts on this topic. You can find her on Twitter as @Dr_Debt_NS.

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Give Your Budget a Facelift! Turn It Into a Spending Plan

mam-headshotBy Mary Ann Marriott, CIRP, LIT

Budgeting – what a dreadful word! It dredges up uncomfortable images of cutting back, restricting, penny-pinching, and doing without. It’s incredible the power of that one little word. It says “Here come the papers and pencils and calculators and spreadsheets…” My head starts to hurt as I write it.

Dictionary.com defines budget as “an estimate, often itemized, of expected income and expense for a given period in the future.” That’s pretty cold and clinical and hardly helps to alleviate the stress the word can cause.

Actually, I’m a huge fan of the budgeting process. I just don’t use that awful word.

I prefer the term “Spending Plan.” Let that phrase sit with you a moment. A lot less threatening, huh? A spending plan is simply that – a plan for how you will spend your money every month.

Plans are not ironclad; they recognize that things can, and often will, change. However, you have to have one if you want to keep your finances healthy. As with many other things in life, planning ahead has many benefits.

Let’s say you’re going on a trip. Do you jump in the car and just start driving? Going over your route beforehand will prevent you from getting lost, or perhaps get your to your destination faster or more safely. Or, you want to eat healthier. Do you just start eating what you have in your cupboards? Probably not – you likely do some research into healthy foods, visit your supermarket, join a group or subscribe to some sort of meal plan (notice I didn’t say diet – for the same reason I avoid budget, it’s scary!)

The goal of a spending plan is to decide where you want your hard-earned dollars to go. You decide what’s important, you take steps to ensure you have the money for those important things – vacations, owning a home, fun family purchases from TVs to snowmobiles.

Having a plan means you are not flying by the seat of your pants from paycheque to paycheque, watching all of your income go towards more mundane expenses like power, phone, cable, Internet, groceries, or gas.

I try to keep spending plans simple, for myself and for my clients. For example, In my blog The 3-Step Simple Spending Plan, I break it down into three easy categories:

  • Bills and Automatic payments;
  • Savings and occasional expenses and;
  • Spending.

Dividing your money into these three categories can make a spending plan simple and effective and forgo the need for spreadsheets, ledgers and the like.

There is no cookie-cutter plan, no one-size fits all solution, and you need to discover what works for your particular circumstances. But what’s really important is to get that spending plan in place! It’s the absolutely essential first step to getting financially healthy.

Mary Ann Marriott, CIRP, is a Licensed Trustee with Allan Marshall & Associates Inc.. and services their Halifax and Bridgewater locations in Nova Scotia. She is passionate about helping others succeed financially and regularly provides workshops, presentations and social media posts on this topic. You can find her on Twitter as @Dr_Debt_NS.

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Did you know? Licenced Insolvency Trustees are there to help

leanneBy CAIRP Financial Literacy Champion Leanne Salyzyn, FCIRP, LIT

As Licensed Insolvency Trustees, we are natural advocates for financial literacy, which is why we are so pleased to participate in Financial Literacy Month this November.

We see firsthand the toll that financial stress takes on individuals and families. Every day across Canada, LITs meet consumers who are in financial distress and assess their situations, making recommendations that will transform their financial futures.

A Licensed Insolvency Trustee (LIT) can administer a bankruptcy or consumer proposal – two of the relief options available to people who find themselves insolvent – that is, unable to make payments on their debts.

But an LIT (formerly known as a Trustee in Bankruptcy) does much more than that. We are highly educated experts who can show you all your options when you need help with your finances.

Canadians are no slouches when it comes to knowing their financial stuff. According to statistics from the International Network on Financial Education (INFE), we place third internationally on overall levels of financial literacy.

Not bad statistics. But there are some really big gaps.  According to the Financial Consumer Agency of Canada (FCAC) ,  the quarterback of Canada’s Financial Literacy Month, “One-third of Canadians have had a difficult time covering living expenses using income alone – many of the individuals who struggle draw on debt to make ends meet.”

flm-twitter-logoIn our experience, there are many Canadians who need help understanding their options.

The Office of the Superintendent of Bankruptcy, the federal regulator of The Bankruptcy & Insolvency Act, reported that in 2015 more than 120,000 consumers required relief from their creditors by filing for personal bankruptcy or consumer proposal. However, these stats only take into account those who actually sought out professional help. How many more out there were too afraid or too embarrassed to ask for help?

LITs can give them that help – since 1992, under The Bankruptcy & Insolvency Act, we have provided two mandatory credit counselling sessions for every insolvent consumer and/or relative.

These sessions focus on money management, spending habits, how to get and use credit as well as understanding the non-budgetary causes (employment difficulties, marriage or family problems, substance abuse, gambling, etc.) that may have contributed to their financial difficulties. Fast-forward 24 years and, unfortunately despite all of our efforts, overall consumer insolvency rates have remained largely unchanged.flm-facebook-logo

In the trenches at counselling sessions, we hear the stories of poor financial decisions or how people couldn’t rebound financially from a series of unfortunate events. We understand how easily financial problems can happen, especially when so many Canadians are living paycheque to paycheque. Many suffer in silence for years without asking for help for fear of being judged. They would rather ask family and friends for financial advice than a licensed professional. They report not understanding documents that they signed and being too afraid or proud to ask questions. They admit to accepting readily available credit, not necessarily because they could afford it but rather because it was available. As a result, many Canadians now live beyond their means.

LITs help to fill the gaps of inadequate financial role models and empower consumers by educating them about finances and the credit industry. We know that debt doesn’t discriminate – it can affect every generation that has access to credit.

It’s our hope that consumers will see LITs as the “go-to professionals” for financial advice instead of the last resort. Asking for advice from a licensed, educated and experienced professional earlier, rather than later, can make the difference between a Band-Aid debt situation and resolving problems once and for all.

Leanne Salyzyn, FCIRP, LIT is a CAIRP Financial Literacy Champion. She is the CEO and managing partner of Salyzyn & Associates Ltd. in Bedford, N.S.

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Gambling-Related Debt in the Insolvency System

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Anna Lund, an Assistant Professor at the University of Alberta, Faculty of Law, feels passionately about bankruptcy law.

“Bankruptcy law is incredibly compelling.  It’s legally mandated debt forgiveness.  People who have met with misfortune, or who have just made some bad decisions, are given a second chance, a fresh start.  But not everybody is given the same opportunity to get a fresh start, and that raises some provocative questions about fairness.”

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Anna Lund

 

She’s bringing that passion for bankruptcy law to a research project on gambling and insolvency. The topic emerged organically from her PhD research.

“The federal legislation which governs the Canadian bankruptcy system singles out gambling as a type of misconduct. When debtors admit that their bankruptcies resulted from gambling, they may be denied the benefit of debt forgiveness,” says Ms. Lund.

During my PhD research, I interviewed insolvency trustees across Canada, and reviewed written decisions from bankruptcy court. I found very divergent attitudes towards this aspect of the legislation.  Some people view gambling as blameworthy behavior that should be penalized.  Others view it as an addiction, on par with other mental illnesses, and are uncomfortable with the idea that we would penalize people who suffer from this condition.”

The next stage of her research, currently underway, involves interviewing individuals, who have made use of insolvency proceedings to address gambling related debt.

“I’m interested in learning about their experiences of the insolvency system. Did it help them to address their financial and gambling problems? What else could or should the insolvency system be doing to help these individuals make a genuine fresh start?”

People interested in participating in the study can learn more HERE.  The end goal of the project is to make recommendations for legal reform, but also to provide insolvency trustees with practical guidance on how to apply the legislation, and what they can do to support problem gamblers who have turned to insolvency.

The project has been funded by the Alberta Gambling Research Institute, an interdisciplinary research consortium of the University of Alberta, the University of Calgary and the University of Lethbridge.

 

 

 

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