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following factors when determining whetherto approve the sale:Was the process leading to theproposed sale reasonable in thecircumstances;Whether the monitor approved theprocess;Whether the monitor filed a reportwith the court stating that the salewould be more beneficial to creditorsthan a bankruptcy;Whether the creditors wereconsulted, and to what extent;What the effect of the proposed salewould be on the creditors; andWhether the amount to be receivedfrom the proposed sale isreasonable/fair considering theassets’ market value.CROSS-BORDER INSOLVENCYThe BIA and CCAA both contain provisionswith respect to cross-border insolvencies.These provisions are largely based on theUnited Nations Commission on InternationalTrade Law’s (“UNICITRAL”) Model Law onCross-Border Insolvency.For more information, please contact one ofthe professionals in our CommercialLitigation and Insolvency Practice Group.Commercial Reorganization and Insolvency Law 130

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