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Category: Insolvency News

HOW MUCH DOES A BANKRUPTCY COST?

September 5, 2017

Some trustees are evasive about answering this question because the answer isn’t always simple. Many people ask that question as a prelude to deciding whether or not they will file for bankruptcy.  The answer is quite a bit more complex than it might appear. Although the Office of the Superintendent of Bankruptcy (Industry Canada) sets […]

MY PROPOSAL WAS ANNULLED – NOW WHAT?

September 5, 2017

Consumer proposals can be revived – don’t panic there are options. If you fall behind on your payments under a proposal you shouldn’t panic.  Consumer proposals can be revived in one of two ways – first of all they can be revived automatically by the Administrator (Trustee) if you bring your payments up to current […]

WHAT IS THE DIFFERENCE BETWEEN INSOLVENCY AND BANKRUPTCY?

September 5, 2017

Many people and companies are or can be insolvent without being bankrupt.  One of the criteria for becoming bankrupt is being insolvent.  We might use the analogy that all apples come from trees but not all trees produce apples. Liquidity is a word that we hear bantered around – back in 2008/9 Canadian banks were […]

INTERESTING ARTICLE

September 5, 2017

The article identifies some areas of ethical concern When should we be concerned about the relationship between debt consultants and bankruptcy trustees? Posted on September 13, 2015 by Mark Silverthorn I can empathize with a bankruptcy trustee who not only has to compete for revenues with other trustees but also credit counselling agencies and debt […]

407 ETR JUDGEMENT TO BE RELEASED

September 5, 2017

The Supreme Court of Canada will release judgement this week. Finally the supreme Court of Canada will be releasing its decision on the now reknowned 407 ETR appeal case this Friday the 13th of November at 9:45 a.m. stay tuned for the update.