REORGANIZATION: A COMMERCIAL CONCEPT JURIDICIALLY DEFINED

Abstract

Though often referred to by businessmen, mentioned in commercial contracts or contained in Canadian statutes, the concept of “reorganization” or of “reconstruction,” its British counterpart, is commercial in nature and bears no technical statutory definition. In light of the importance of the legal implications attached to such concept, the authors chronologically analyze case law from both the UK and Canada in order to delineate the key features of such a concept, outlining that these have been constantly reaffirmed by the courts in different statutory and/or factual contexts.