• What is bankruptcy? What makes a company consider for bankruptcy? Please discuss the positives and negatives of bankruptcy? In your opinion, do you think debtors should be allowed to simply be relieved of their debts, and why? How bankruptcy works and what happens when a company goes bankrupt?

• There are two key insolvency statutes in Canada: the Companies' Creditors Arrangement Act (CCAA) and the Bankruptcy and Insolvency Act (BIA). Please discuss the two acts and explain the differences between two statutes?

• Case Study: Stelco Inc.: Bankruptcy and Restructuring

*Based on the case study mentioned above, kindly answer the following questions.

1. What does the case talk about? Please explain Stelco's situation in 2003 and what issues Quantum had to consider and face?