CCAA

Understand the CCAA in Canadian real estate and finance — how it supports large corporate restructurings, delays foreclosures, and manages insolvency risks.

CCAA

June 13, 2025


What is the CCAA?

The Companies’ Creditors Arrangement Act (CCAA) is a federal law that allows large insolvent corporations in Canada to restructure their debt and continue operations under court protection.

Why the CCAA Matters in Real Estate

In Canadian commercial real estate and finance, the CCAA enables companies owing more than $5 million to avoid bankruptcy by negotiating with creditors and restructuring debt.



Key features of CCAA proceedings:
  • Provides legal stay of proceedings against the debtor
  • Involves court supervision and a monitor (usually an accounting firm)
  • Facilitates asset sales or operational reorganization
  • Requires approval of a restructuring plan by creditors and court



The CCAA is often used by large real estate developers, REITs, or commercial landlords facing liquidity issues.



Understanding the CCAA helps stakeholders assess restructuring outcomes and real estate impacts during financial distress.

Example of the CCAA in Action

The struggling commercial landlord filed under the CCAA to restructure leases and delay foreclosure while seeking new capital partners.

Key Takeaways

  • Applies to insolvent companies with over $5M in debt
  • Offers restructuring instead of liquidation
  • Court-monitored and creditor-approved process
  • Common in commercial real estate and development
  • Protects value and preserves operations

Related Terms

Additional Terms

Construction Loan

A construction loan is a short-term, interim financing option used to fund the building or major renovation of a property, with funds disbursed in. more

Certificate of Occupancy

A certificate of occupancy is an official document issued by a municipal authority confirming that a building complies with applicable codes and is. more

Bylaw Variance

A bylaw variance is official permission granted by a municipal authority allowing a property owner to deviate from local zoning or building bylaw. more

Absorption Rate

Absorption rate is a metric that measures the rate at which available properties are sold or leased in a specific market over a given period.. more

Corporate Restructuring

Corporate restructuring refers to the reorganization of a company’s operations, assets, or liabilities, often under court supervision, to improve. more

Consumer Proposal

A consumer proposal is a formal, legally binding agreement in Canada between an individual and their creditors to repay a portion of their debt over. more

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