Alberta Law Reform Institute Recommends Changes to Update the Law of Creditors' Rights and Remedies

The Alberta Law Reform Institute (ALRI) - dedicated to advancing just and effective laws through independent legal research, consultation, and analysis - has reviewed the work of the Uniform Law Conference of Canada and published a report recommending that the province of Alberta adopt the Uniform Reviewable Transactions Act. The Act would reform the provincial law of fraudulent conveyances and preferences. University of Alberta Faculty of Law Professor Tamara Buckwold was the primary author of the report; she teaches and publishes in the areas of commercial law and contracts and is active in law reform. ALRI's report points out that this area of law is seriously outdated as it still relies largely on the English Fraudulent Conveyances Act, 1571. The law in this area lacks a clear policy foundation and should be clarified and modernized. For more information on key changes that would result from adopting the Reviewable Transactions Act in Alberta, or to download the entire report, visit ALRI's website.