Chapter 14: Bankruptcy and Safeguards Against Fraud

Please kindly provide detailed explanations every questions.

provides an overview of the rights and remedies available under the Bankruptcy and Insolvency Act. Provincial legislation to control fraudulent activity by debtors is also examined.

1. Under what circumstances could a debtor be said to be bankrupt?
2. Why are only unsecured creditors involved in bankruptcy proceedings?
3. What are the options in respect of bankruptcy available to potential bankrupts?
4. What remedies does the Bankruptcy and Insolvency Act provide to control fraudulent activity by bankrupts?
5. What are the advantages and disadvantages for a creditor in petitioning a debtor into bankruptcy?
6. In what circumstances is it useful to use the Fraudulent Conveyances Act (FCA)?
7. For a creditor, what advantages does the FCA have over the bankruptcy legislation?
8. What are the badges of fraud that can assist a creditor under the FCA?
9. What are the statutory presumptions that can assist a creditor under the FCA?
10. How is the Assignments and Preferences Act similar to the FCA? How is it different?