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CCAA-The Companies' Creditors Arrangement Act (CCAA) is a federal law allowing insolvent corporations that owe their creditors in excess of $5 million to restructure their business and financial affairs. The main purpose of the CCAA is to enable financially distressed companies to avoid bankruptcy or foreclosure or seizure of assets while maximizing returns for their creditors and preserving both jobs and the company's value as a functioning business. CCAA proceedings are carried out under the supervision of the Court.

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โˆ™ 2014-08-24 03:14:29
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Q: What is mean by you have filed proof of a claim in the Companies' Creditors Arrangement Act proceeding?
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