Venture capital (“VC”) is considered an essential component of any economy, as it engenders innovation and fosters the growth of early-stage business ventures. If so, how does one develop a VC market? This question has exercised the minds of scholars, and a number of theories have been proffered, including the reliance on private contracting and the intervention of the government (Ronald J Gilson, Engineering a Venture Capital Market: Lessons from the American Experience (2003); Christopher Gulinello, Engineering aVenture Capital Market and the Effects of Government Control on Private Ordering: Lessons from the Taiwan Experience (2005)).

Originating from Professor Torrie’s doctoral dissertation, this monograph presents a thorough and comprehensive inquiry into the genesis and transformation of the Companies’ Creditors Arrangement Act (“CCAA”), the premier bankruptcy law in Canada. Its central research questions are twofold. Firstly, what accounts for the historical ascendancy of the CCAAfrom its initial modest to its contemporary status as representing the major corporate restructuring regime in Canada? Secondly, how might this historical account of the CCAA contribute to broader understandings of corporate bankruptcy law and cycles of legal change at large?