Ontario’s Bulk Sales Act: no more

By Troy Ungerman (Toronto) on June 6, 2017 Posted in M&A

Last year, we reported that Ontarians may finally be able to bid farewell to the archaic Bulk Sales Act (Ontario) (the BSA). The BSA was initially enacted to protect creditors of a seller against the sale of assets in bulk where the seller did not satisfy its outstanding debts to the creditor. After much anticipation, … Continue reading

Ontario’s Bulk Sales Act: Repeal at last?

By Troy Ungerman (Toronto) on July 7, 2016 Posted in Antitrust, competition and regulatory

Last year we reported on Ontario’s distinction as the only Canadian province that has not repealed its century-old Bulk Sales Act (the Act). With its goal of creditor protection now served by more modern legislation, the Act is generally viewed as a nuisance, adding time and cost to transactions. However, the wait may soon be … Continue reading

PPSA registrations in asset purchase transactions: when are they necessary?

By Matthew Lippa (Toronto) on August 11, 2015 Posted in Corporate finance, Finance

In asset purchase transactions involving the sale of accounts receivable, questions often arise about whether a registration under the applicable provincial Personal Property Security Act (PPSA) will be necessary. The answer to this questions depends on a number of factors, including where the seller’s accounts receivable are located and whether a party is the purchaser … Continue reading