What is the test for appointing an interim Receiver pursuant to Section 47 of the Bankruptcy and Insolvency Act?
Ontario, Canada
The following excerpt is from Bank of Nova Scotia v. D.G. Jewelry Inc., 2002 CanLII 12477 (ON SC):
I do not think that, in order to appoint an Interim Receiver pursuant to Section 47 of the BIA, I must be satisfied that there is an actual and immediate danger of a dissipation of assests. The decision of Nova Scotia Registrar Smith in Royal Bank v. Zutphen Brothers is not, in my view, the law of Ontario.
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