Examples of WURA in a sentence
Exchange and the Contracting Party agree that all Eligible Collateral Support and all Collateral shall constitute “financial collateral” as that term is used in the CCAA, the BIA, the WURA, and any successor or like Canadian statutory provisions.
OSFI issuing orders under section 619 of the Bank Act for the taking of control of the assets of Maple Bank in respect of the Business.4. The events described above prompted OSFI to request that the Attorney General of Canada seek a winding-up order pursuant to section 10.1 of the WURA in respect of the Business.
The notices sent by the GIA, in accordance with section 87 of the WURA, to the former employees of the Toronto Branch of the GIA’s objection to certain components of the Employee Claims and sought direction from the Court to determine the resolution of the now disputed Employee Claims.
The WURA is a liquidation statute designed to deal with, among other things, the formal liquidation of certain regulated entities including financial institutions and insurance companies.
There are three main insolvency statues in Canada: (1) the Bankruptcy and Insolvency Act (BIA); (2) the Companies’ Creditors Arrangement Act (CCAA); and (3) the Winding-Up and Restructuring Act (WURA).