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Levy
Under the Bankruptcy and Insolvency Act the government has imposed a levy (in 1997 equal to 5%) over all dividends paid to unsecured creditors. Therefore, if a creditor is entitled to a $100 dividend, he will only get $95 with $5 being paid to the government.
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Canadian Insolvency Dictionary INDEX:List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 A: Page 1 of 3.
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