Valuation of Security Interests Upon Expropriation
AbstractWith the introduction of The Expropriation Act, S.A. 1974, c. 27, Alberta became and today remains the only jurisdiction in Canada where security interests are valued upon expropriation on the basis of their market value. The other Canadian jurisdictions compensate security holders on the basis of the outstanding balance owed on their security. In this article brief review of the relevant Ontario pro visions is made, and the article discusses the difference between the Alberta and Ontario provisions, analyzing the advantages and disadvantages of each approach, and in particular reviewing the potential problems which may result from the approach adopted by the Alberta Expropriation Act.
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