The Eight-Nation Alliance, after being initially turned back, brought 20,000 armed troops to China, defeated the Imperial Army, and captured Beijing on August14, lifting the siege of the Legations.
Uncontrolled plunder of the capital and the surrounding countryside ensued, along with the summary execution of those suspected of being Boxers.
bankruptcy, raising concerns that the plaintiff-appellee in the matter might actually turn out to be a known creditor.
The legislation is remedial in the purest sense in that it provides a means whereby the devastating social and economic effects of bankruptcy or creditor initiated termination of ongoing business operations can be avoided while a court-supervised attempt to reorganize the financial affairs of the debtor company is made. 11 of the CCAA, which states that a court may, “subject to the restrictions set out in this Act, .  The CCAA creates conditions for preserving the status quo while attempts are made to find common ground amongst stakeholders for a reorganization that is fair to all.
Because the alternative to reorganization is often bankruptcy, participants will measure the impact of a reorganization against the position they would enjoy in liquidation.
The CCAA was enacted by Parliament in 1933 when the nation and the world were in the grip of an economic depression.
When a company became insolvent liquidation followed because that was the consequence of the only insolvency legislation which then existed - the Bankruptcy Act and the Winding-Up Act.