Proceedings of the Standing Senate Committee on
Banking, Trade and
Commerce
Issue 15 - Minutes of Proceedings
OTTAWA, Monday, December 2, 1996
(28)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 6:15 p.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kenny, Kirby, Meighen, Oliver and Stewart. (7)
In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government
Also present: The official reporters of the Senate.
WITNESSES:
From the Canadian Insolvency Practitioners Association:
Mr. Ralph W. Peterson, President;
Mr. William J. Drake, BIA Task Force Chair;
Mr. Alan Spergel, BIA Task Force Member; and
Mr. Norman H. Kondo, Executive Director.
From the Canadian Bar Association:
Mr. Robert A. Klotz, Chair, National Section on Bankruptcy and Insolvency; and
Ms Tamra L. Thomson, Director, Legislation and Law Reform.
From the Canadian Life and Health Insurance Association:
Mr. Mark Daniels, President;
Mr. Paul Cozzi, Vice-President and Associate General Counsel, Sun Life Assurance Company Canada; and
Mr. Sam Steel, Assistant Vice-President and Associate General Counsel, Sun Life Assurance Company of Canada.
Pursuant to the Order of Reference adopted by the Senate on Thursday, October 31, 1996, the committee considered Bill C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act.
Messrs Peterson, Spergel and Drake made opening statements and then, along with Mr. Kondo, answered questions.
Ms Thomson and Mr. Klotz made opening statements and then answered questions.
Messrs Daniels, Cozzi and Steel made opening statements and then answered questions.
At 9:05 p.m. the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Tuesday, December 3, 1996
(29)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 10:05 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kenny, Kirby, Meighen, Oliver and Stewart .(7)
Other senator present: The Honourable Senator Taylor.
In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government
Also present: The official reporters of the Senate.
WITNESSES:
From the Insolvency Institute:
Mr. E. Bruce Leonard, Chairman; and
Mr. David E. Baird, Co-Chair, Bill C-5 Review Task Force.
From Ernst & Young Inc.:
Mr. David Richardson, Chairman.
Pursuant to the Order of Reference adopted by the Senate on Thursday, October 31, 1996, the committee considered Bill C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act.
Messrs Leonard, Baird and Richardson made opening statements and then answered questions.
At 11:55 a.m. the committee adjourned to the call of the Chair.
ATTEST:
OTTAWA, Thursday, December 5, 1996
(30)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met this day at 11:05 a.m. in room 505, Victoria Building, the Chairman, the Honourable Michael Kirby, presiding.
Members of the committee present: The Honourable Senators Angus, Hervieux-Payette, P.C., Kenny, Kirby, Meighen, Oliver and Stewart. (7)
Other senator present: The Honourable Senator Taylor.
In attendance: From the Research Branch of the Library of Parliament: Mr. Gerald Goldstein, Director, Economics Division and Ms Margaret Smith, Research Officer, Law and Government
Also present: The official reporters of the Senate.
WITNESSES:
From the Bank of Nova Scotia:
Mr. Denis Belcher, Executive Vice-President.
From the Royal Bank:
Mr. Ed Lundy, Senior Vice-President, Business Banking.
From McMillan Binch:
Mr. Andrew J.F. Kent.
From the Department of Industry:
Mr. David Tobin, Director General, Corporate Governance Branch;
Mr. Marc Mayrand, Superintendent of Bankruptcy;
Mr. Jacques Hains, Director, Corporate Law Policy Directorate;
Mr. Gordon Marantz, Legal Advisor to the Department; and
Mr. Max Mendelsohn, Legal Advisor to the Department.
Pursuant to the Order of Reference adopted by the Senate on Thursday, October 31, 1996, the Committee considered Bill C-5, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act and the Income Tax Act.
Messrs. Belcher and Lundy made opening statements and then, along with Mr. Kent, answered questions.
Mr. Tobin made an opening statement and then, along with Messrs. Marantz, Mendelsohn and Hains, answered questions.
At 1:55 p.m. the committee adjourned to the call of the Chair.
ATTEST:
Paul Benoit
Clerk of the Committee