A national search conducted for an individual or business at the Federal level in the Bankruptcy and Insolvency Records database, overseen by the Office of the Superintendent of Bankruptcy. The search report will include:
– Basic debtor information on all bankruptcies and proposals registered in Canada since 1978
– Receiverships registered since January 1993
– Recorded petitions
– All companies that have received protection under the Companies’ Creditors Arrangement Act (CCAA) since September 18, 2009.
Business names searches – the CCAA option. The Companies’ Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. The CCAA allows a company to carry on business while it seeks to develop and obtain the approval of compromises or arrangements with its creditors and avoid the social and economic consequences of bankruptcy.