The legal meaning of bankruptcy and insolvency law has often remained elusive, even to practitioners and scholars in the field, despite having been enshrined in Canada's Constitution since Confederation. Federal power in this area must be measured against provincial jurisdiction over property and civil rights, among others. Debt and Federalism traces conceptions of the bankruptcy and insolvency power through four cases that form the constitutional foundation of the Canadian bankruptcy system: the 1894 Voluntary Assignments case, Royal Bank of Canada v Larue in 1928, the 1934 Companies' Creditors Arrangement Act Reference, and the 1937 Farmers' Creditors Arrangement Act Reference. Together, they produced the bedrock for modern understandings of bankruptcy and insolvency law.