• What To Do When Your Lessee Declares Bankruptcy
  • June 23, 2012 | Author: Chantal Joubert
  • Law Firm: Lavery, de Billy, L.L.P. - Montreal Office
  • A commercial lease does not end on the sole basis that the lessee declares bankruptcy; to the contrary, the Bankruptcy and Insolvency Act (“BIA”) provides that the property of the bankrupt, including the lease, is vested in the trustee. In fact, the terms of the lease are what make it possible for the lessor to terminate the lease should the lessee declare bankruptcy.