28:
188:. The last agricultural census reported that 244,201 farms (33.61% of all farms in Canada) reported having mortgages totalling $ 677,000,000 (16.75% of the value of all farms, or 49% of the value of owned farms). Cash flow problems also resulted in a significant increase in the amount of short-term obligations. It reached the point where
261:
the establishment of provincial Boards of Review, whose task would be to determine acceptable proposals (if, and only if, it can be done in fairness and justice to the debtor and creditors) where the creditors have declined to accept a farmer's proposal, and to submit their proposal (either with or
388:
The statute is, by its express terms, incorporated into the general system of bankruptcy legislation in force in Canada and it is not open to dispute that legislation in respect of "compositions and arrangements is a natural and ordinary component of a system of bankruptcy and insolvency
268:
the reduction of interest payable, where a mortgage's annual rate of interest exceeds 7%, so that the contracted rate can only be enforced on the amount of interest then due, plus three months' further interest in lieu of notice, after which the annual interest rate is commuted to
398:
The Act was repealed and replaced in 1943, with its scope limited to the provinces of
Alberta, Saskatchewan and Manitoba, but it would fall into disuse later in the 1940s. It would remain dormant until its repeal in 1988, as a consequence of the passage of the
199:
addressed only voluntary arrangements between farmers and their creditors, but
Bennett sent it back to add provisions designed to adjust principal and interest obligations to the productive value of the farm. As Bennett told the
215:, a former Attorney General and Provincial Treasurer of Saskatchewan, was appointed to oversee the Act's initial implementation, before permanent oversight was assigned to staff in the Department.
313:
an expansion of the definition of "creditor" to include persons holding a mortgage, hypothec, pledge, charge, lien or privilege against the property of the debtor, notwithstanding any absence of
292:
a farmer resident in Quebec to be able to make an assignment in bankruptcy where the Board declines to make a proposal and declares that his affairs can best be dealt with under the
265:
failure to comply with the terms of a approval would constitute an act of bankruptcy, except where the court considers that such an act was due to causes beyond the farmer's control
335:
no new proposals by farmers to be received in
Manitoba or British Columbia after June 1939, or for any province other than Alberta and Saskatchewan after December 1939
254:
a stay of proceedings, not exceeding sixty days, where no creditor may exercise any remedy against property, or commence any proceedings relating to bankruptcy,
419:
320:
providing for the legal representative of a farmer dying on or after 3 July 1934 to be able to continue proceedings or make a proposal on behalf of the estate
578:
168:. Originally framed to deal with such problems nationwide, it was gradually reduced in scope, and was reenacted in 1943 to apply solely to farmers in the
438:
1032:
229:
Official
Receivers to be appointed in each county or district of a province where an assignment or a petition might be a filed with respect to a farmer
502:
1197:
1172:
1182:
204:, "The object, of course, is to keep the farmer on the farm; if possible to keep him cultivating the land on which he had lived."
1061:
377:
352:
1177:
301:
the Act to cease to apply in
British Columbia, other than for proposals already approved by the court or the Board of Review
180:
By 1934, the farm debt problem in Canada, which had been provoked by the Great
Depression, reached a scale where provincial
1167:
1207:
479:
332:
no new proposals to be filed or accepted with respect to a specified province, on or after a date fixed by proclamation
837:
An Act relating to the application of The
Farmers' Creditors Arrangement Act, 1934 in the Province of British Columbia
491:
1107:
1192:
195:
decided to introduce remedial legislation to address it at the federal level. The initial draft submitted by the
196:
1187:
1037:
583:
207:
The bill was introduced in June 1934, together with relief legislation concerning farm loans, and received
262:
without the creditors' consent) to the court for its approval, and such approved proposal would be binding
519:
542:
323:
a farmer to be deemed to have committed an act of bankruptcy where there is a default under the proposal
251:
over any applicable property (except in those cases where a proposal is formulated by a Board of Review)
1202:
1096:
1092:
1074:
1002:
701:
548:
201:
721:
611:
232:
a farmer, who is unable to meet his liabilities as they come due, to be able to file a proposal for a
1139:
1121:
971:
899:
836:
357:
826:
428:
189:
1041:
587:
373:
483:
164:
that attempted to remedy a wave of insolvencies that occurred among
Canadian farmers during the
298:
the Act not to apply to any debt created after 1 May 1935, without the consent of the creditor
1162:
317:, as well as the vendor of real property where the debtor holds it under an agreement of sale
237:
401:
161:
90:
35:
8:
1057:
326:
an indefinite stay of proceedings until the date of the final disposition of the proposal
314:
248:
1144:
1126:
1079:
1007:
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233:
55:
An Act to facilitate
Compromises and Arrangements between Farmers and their Creditors
487:
286:
specifying that a proposal would not automatically effect a discharge from bankruptcy
185:
169:
79:
474:
Maturing in Hard Times: Canada's
Department of Finance Through the Great Depression
447:
415:
361:
356:, would be declared unconstitutional as encroaching upon the provincial power over
244:
181:
165:
515:
240:
with respect to his creditors, at any time before or after an assignment is filed
212:
153:
1156:
255:
184:
could not resolve it, as it could not remove the farmer from his position of
697:
467:
208:
192:
97:
561:
other than farmers who were "soldier settlers" within the meaning of the
381:
46:
459:
27:
451:
1054:
Attorney General of British Columbia v Attorney General of Canada
706:
329:
the establishment of more than one Board of Review in a province
289:
the stay of proceedings to be extended from sixty to ninety days
346:
Many Canadian legal commentators at the time expected that the
138:
75:
622:
1101:, Farm Debt Mediation Service and Farm Consultation Service"
900:
An Act to amend The Farmers' Creditors Arrangement Act, 1934
243:
such proposal to go ahead only with the concurrence of any
827:
The Farmers' Creditors Arrangement Act Amendment Act, 1935
651:
649:
436:
Easterbrook, W.T. (1935). "Agricultural Debt Adjustment".
158:
Loi sur les arrangements entre cultivateurs et créanciers
744:
732:
646:
634:
668:
666:
664:
576:, pp. 393-394,quoting his judgment's introduction in
364:, and they were astonished when both were upheld. The
516:
The Canadian Confederation: Past, Present, and Future
307:
In 1938, the Act was further amended to provide for:
546:, S.O. 1932, c. 49 , followed the following year by
504:
Should Paramountcy Protect Secured Creditor Rights?
1013:
678:
661:
439:
Canadian Journal of Economics and Political Science
341:
471:
579:Reference Re Companies' Creditors Arrangement Act
1154:
549:The Mortgagors' and Purchasers' Relief Act, 1933
543:The Mortgagors' and Purchasers' Relief Act, 1932
1033:Reference Re Farmers' Creditors Arrangement Act
1003:The Companies’ Creditors Arrangement Act, 1933
722:The Canadian Farm Loan Act Amendment Act, 1934
1122:Miscellaneous Statute Law Amendment Act, 1987
280:In 1935, the Act was amended to provide for:
1075:The Farmers' Creditors Arrangement Act, 1943
696:
612:The Farmers' Creditors Arrangement Act, 1934
586: at p. 660, SCR 659 (6 June 1934),
223:As originally passed, the Act provided for:
628:
435:
738:
655:
640:
414:
710:. Canada: House of Commons. p. 3639.
393:
1091:
275:
378:Judicial Committee of the Privy Council
372:) was held to be constitutional by the
1155:
1019:
500:
750:
700:, Prime Minister (4 June 1934).
684:
672:
466:
120:1 November 1934 (Remaining provinces)
353:Companies' Creditors Arrangement Act
116:1 September 1934 (Prairie Provinces)
130:SC 1935, cc. 20, 61; SC 1938, c. 47
118:1 October 1934 (Ontario and Quebec)
13:
506:Saskatchewan v Lemare Lake Logging
408:
149:Farmers' Creditors Arrangement Act
20:Farmers' Creditors Arrangement Act
14:
1219:
1129:1988, c. 2, Sch. IV , Items 12-13
1198:Canadian agriculture legislation
1173:History of agriculture in Canada
1108:Agriculture and Agri-Food Canada
972:The Soldier Settlement Act, 1917
342:Attack on constitutional grounds
26:
1183:Canadian insolvency legislation
1132:
1114:
1085:
1067:
1047:
1040:, SCR 384 (17 June 1936),
1025:
995:
986:
964:
955:
946:
937:
928:
919:
910:
892:
883:
874:
865:
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847:
819:
810:
801:
792:
783:
774:
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707:Parliamentary Debates (Hansard)
567:
555:
480:McGill-Queen's University Press
714:
690:
603:
534:
1:
1097:"Report to Parliament on the
597:
360:in relation to the rights of
175:
1178:Canadian federal legislation
1064: (on appeal from Canada)
540:as, in Ontario for example,
218:
7:
10:
1224:
1168:Great Depression in Canada
258:or realization of security
1208:History of Western Canada
807:S.C. 1934, c. 53, s. 1(3)
501:Torrie, Virginia (2017).
358:property and civil rights
134:
129:
124:
106:
96:
86:
71:
63:
41:
34:
25:
18:
1060: (28 January 1937),
979:1917, c. 21 , later the
527:
380:subsequently agreed. As
1099:Farm Debt Mediation Act
816:S.C. 1934, c. 53, s. 17
798:S.C. 1934, c. 53, s. 12
789:S.C. 1934, c. 53, s. 11
563:Soldier Settlement Act"
468:Bryce, Robert Broughton
421:The Farmer and his Debt
384:noted in his judgment:
374:Supreme Court of Canada
350:, together with 1933's
236:, extension of time or
1193:Canadian corporate law
1058:[1937] UKPC 10
981:Soldier Settlement Act
780:S.C. 1934, c. 53, s. 7
771:S.C. 1934, c. 53, s. 6
762:S.C. 1934, c. 53, s. 3
520:Université de Montréal
394:Replacement and repeal
391:
368:(and by extension the
157:
983:, R.S.C. 1927, c. 188
508:in Historical Context
386:
276:Subsequent amendments
238:scheme of arrangement
197:Department of Finance
1188:1934 in Canadian law
1140:Farm Debt Review Act
402:Farm Debt Review Act
182:moratory legislation
162:Parliament of Canada
160:) was an Act of the
91:Parliament of Canada
36:Parliament of Canada
992:SC 1938, c. 47, s.9
961:SC 1938, c. 47, s.8
952:SC 1938, c. 47, s.7
943:SC 1938, c. 47, s.6
934:SC 1938, c. 47, s.5
925:SC 1938, c. 47, s.4
916:SC 1938, c. 47, s.1
889:SC 1935, c. 61, s.1
880:SC 1935, c. 20, s.8
871:SC 1935, c. 20, s.7
862:SC 1935, c. 20, s.3
853:SC 1935, c. 20, s.2
753:, pp. 160–161.
702:"Farm Indebtedness"
631:, pp. 391–392.
418:(5 November 1934).
315:privity of contract
249:right of redemption
552:, S.O. 1933, c. 35
110:S. 17 (nationwide)
72:Territorial extent
1203:Canadian Prairies
574:Reference re FCAA
429:The Canadian Club
362:secured creditors
247:or person with a
170:Prairie Provinces
144:
143:
114:Remainder of Act:
80:Prairie Provinces
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1148:
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629:Easterbrook 1935
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523:
522:. pp. 1–17.
513:
497:
477:
463:
432:
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416:MacPherson, M.A.
245:secured creditor
202:House of Commons
166:Great Depression
30:
16:
15:
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1103:
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1086:
1082:1943-44, c. 26
1072:
1068:
1052:
1048:
1030:
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1010:1932-33, c. 36
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739:MacPherson 1934
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656:MacPherson 1934
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409:Further reading
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344:
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213:M.A. MacPherson
211:a month later.
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119:
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87:Enacted by
78:
59:
56:
51:
50:
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11:
5:
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1093:Mitchell, Andy
1084:
1066:
1046:
1038:1936 CanLII 35
1024:
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994:
985:
963:
954:
945:
936:
927:
918:
909:
891:
882:
873:
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855:
846:
834:1935, c. 20 ,
818:
809:
800:
791:
782:
773:
764:
755:
743:
731:
713:
689:
687:, p. 161.
677:
675:, p. 160.
660:
645:
633:
621:
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599:
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593:
592:
584:1934 CanLII 72
566:
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532:
531:
529:
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452:10.2307/136668
446:(3): 390–403.
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294:Bankruptcy Act
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190:Prime Minister
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69:
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67:SC 1934, c. 53
65:
61:
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58:
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54:
44:
43:
42:
39:
38:
32:
31:
23:
22:
9:
6:
4:
3:
2:
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1201:
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1109:
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1088:
1081:
1077:
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1070:
1063:
1062:Privy Council
1059:
1055:
1050:
1043:
1042:Supreme Court
1039:
1035:
1034:
1028:
1021:
1016:
1009:
1005:
1004:
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843:
839:
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829:
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822:
813:
804:
795:
786:
777:
768:
759:
752:
747:
741:, p. 67.
740:
735:
728:
724:
723:
717:
709:
708:
703:
699:
693:
686:
681:
674:
669:
667:
665:
658:, p. 71.
657:
652:
650:
643:, p. 70.
642:
637:
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618:
614:
613:
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589:
588:Supreme Court
585:
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53:
52:
49:
48:
40:
37:
33:
29:
24:
21:
17:
1163:R.B. Bennett
1147:1986, c. 33
1138:
1134:
1120:
1116:
1110:. p. 2.
1098:
1095:(May 2005).
1087:
1073:
1069:
1053:
1049:
1031:
1027:
1022:, p. 5.
1015:
1001:
997:
988:
980:
970:
966:
957:
948:
939:
930:
921:
912:
907:1938, c. 47
898:
894:
885:
876:
867:
858:
849:
844:1935, c. 61
835:
825:
821:
812:
803:
794:
785:
776:
767:
758:
746:
734:
729:1934, c. 46
720:
716:
705:
698:R.B. Bennett
692:
680:
636:
624:
619:1934, c. 53
610:
605:
577:
573:
569:
562:
557:
547:
541:
536:
507:
503:
473:
443:
437:
420:
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387:
369:
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351:
347:
345:
306:
293:
279:
222:
209:Royal Assent
206:
193:R.B. Bennett
179:
148:
147:
145:
135:
98:Royal assent
45:
19:
1020:Torrie 2017
609:originally
482:. pp.
234:composition
112:3 July 1934
102:3 July 1934
1157:Categories
751:Bryce 1986
685:Bryce 1986
673:Bryce 1986
598:References
431:. Toronto.
427:(Speech).
376:, and the
176:Background
125:Amended by
82:after 1943
47:Long title
405:in 1986.
219:Framework
107:Commenced
1044:(Canada)
590:(Canada)
470:(1986).
139:Repealed
64:Citation
1036:,
582:,
382:Duff CJ
186:default
136:Status:
490:
486:–162.
460:136668
458:
154:French
76:Canada
1104:(PDF)
1056:
528:Notes
512:(PDF)
456:JSTOR
425:(PDF)
389:law".
1145:S.C.
1127:S.C.
1080:S.C.
1008:S.C.
977:S.C.
905:S.C.
842:S.C.
832:S.C.
727:S.C.
617:S.C.
488:ISBN
370:CCAA
366:FCAA
348:FCAA
146:The
484:160
448:doi
152:, (
1159::
1143:,
1125:,
1106:.
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830:,
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663:^
648:^
615:,
518:.
514:.
478:.
454:.
442:.
269:5%
172:.
156::
496:.
462:.
450::
444:2
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