The article presents updates on legislation in Canada as of April 2008. It explains that the Parliament has been working on the proposed changes to the country's bankruptcy and insolvency laws. These proposed changes are carried in the Bill C-55 and Bill C-12. These bills have already received Royal Assent and now called as Chapters 47 and 36 of the Statutes of Canada, respectively. The details of the provisions of the bills are also presented.