Whether bankruptcy is entered either voluntarily or involuntarily, the major difference between CCAA and the Bankruptcy and insolvency Act is:

a. That liquidation occurs in CCAA but re-organization is the objective under the BIA

b. there is no priority of claims under CCAA

c. that liquidation occurs in BIA but re-organization is the objective under CCAA

d. that no lawyers' fees are necessary under BIA