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Bankruptcy and Insolvency Act

Version of section 84.1 from 2009-09-18 to 2009-12-14:

Marginal note:Assignments

  •  (1) The court may, on application by an insolvent person or a trustee, make an order assigning the rights and obligations of the insolvent person under any agreement to any person, specified by the court, who has agreed to the assignment.

  • Marginal note:Notice

    (2) The applicant must give notice of the assignment, in the prescribed manner, to every party to the agreement.

  • Marginal note:Exceptions

    (3) Subsection (1) does not apply in respect of rights and obligations

    • (a) under an eligible financial contract;

    • (b) under a lease referred to in subsection 65.2(1);

    • (c) under a collective agreement; and

    • (d) that are not assignable by reason of their nature.

  • Marginal note:Factors to be considered

    (4) In deciding whether to make an assignment, the court must consider, among other things,

    • (a) whether the person to whom the rights and obligations are to be assigned would be able to perform the obligations; and

    • (b) whether it would be appropriate to assign the rights and obligations to that person.

  • Marginal note:Restriction

    (5) The court may not make the assignment if the court is satisfied that the insolvent person is in default under the agreement.

  • 2005, c. 47, s. 68
  • 2007, c. 29, s. 97

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