Rethinking the Case for Reverse Vesting Orders in Canadian Insolvency Law

Maziar Peihani of the University of British Columbia, Faculty of Law examines the rise and normalization of reverse vesting orders (RVOs), arguing that RVOs undermine the core tenets of Canadian insolvency law—creditor democracy, class-based voting, and collective negotiation—by enabling purchasers to acquire a debtor’s shares free of liabilities outside the statutory plan or proposal process.

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