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Insolvency (BIA) - Secured Creditors

. Alyange Holdings Inc. v. Dewdney Mountain Farms Ltd.

In Alyange Holdings Inc. v. Dewdney Mountain Farms Ltd. (Ont CA, 2025) the Ontario Court of Appeal dismissed an appeal, here brought against an order that required the defendants "to perform their obligations under the Settlement Agreement" emanating from a mortgage action.

Here the court considers a BIA [s.244 'Secured Creditors and Receivers - Advance notice'] pre-enforcement notice issue:
[25] Section 244 of the BIA provides for a period of advance notice when a secured creditor “intends to enforce a security on all or substantially all of the inventory, the accounts receivable, or the other property of an insolvent person that was acquired for, or is used in relation to, a business carried on by the insolvent person”. ....

....

[37] .... s. 244 applies when a secured creditor intends to enforce a security “of an insolvent person”. It was the Appellants’ burden to prove Dewdney was an insolvent person: 917488 Ontario Inc. v. Sam Mortgages Ltd., 2013 ONSC 2212, 2 C.B.R. (6th) 112, at paras. 38-39. ....

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Last modified: 09-11-25
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