File for canadian bankruptcey

Share on facebook. Share on twitter. Share on linkedin. Share on reddit. Share on pinterest. Ready to live debt free? Let's get started. Sue Murray. Barry Kuntz. Amanda Frappier. Alex Taylor. Steve Medica. Giani Kokolakis. Wajay Awan. Bruce Locke. Denise Simpson. You may be considering filing for bankruptcy in Canada because you have debts that you can no longer pay. If you are drowning in debt , you might feel like there is no way out.

In fact, it can help many people get a fresh start by eliminating debts they can no longer pay. But as I always say, an individual or company may not need to file for bankruptcy. You have to consider all of your options. But in this section, we will focus on the bankruptcy filing process.

It all starts with you going to see a Trustee for a free, no-obligation initial consultation. The Trustee will listen to the facts you describe and ask you some questions to gain a better and deeper understanding of your specific situation. The Trustee will then tell you about the various debt relief options he or she believes are available to you.

The Trustee will then provide you with his or her recommendation as to what is best for your situation and why. The Trustee considers all of this to see if you have an unmanageable debt to determine the best options available to you, including having you file for bankruptcy.

Alright, now for getting to answering the question I posed in the title and at the beginning of this Brandon Blog.

Can a Canadian file for bankruptcy from the luxurious Caribbean? Can Canadian bankruptcy filings start from outside of Canada? To answer this question, we must look at what are the requirements of both the debtor, be it a person or company, and the Trustee, for a bankruptcy file to begin?

All of my comments below, with appropriate amendments for context, will apply to:. This is how the whole world has been operating for almost 1 year now. So this is how the insolvency process begins. In addition to the initial consultation and signup. Examples are a Meeting of Creditors and the two credit counselling sessions.

Any insolvent person can file for bankruptcy. Section 2 of the BIA defines an insolvent person as:. If the debtor has been living in the Caribbean for 4 months immediately preceding the date of the filing of the assignment in bankruptcy , do they qualify? The answer is yes. It does not mean continuously. So during these pandemic days where we meet with everyone online, it is possible for the Canadian person to be in the Caribbean, meet with the Trustee for the initial consultation, decide on an insolvency process, in this case, bankruptcy and then initiate the bankruptcy proceedings, all from the luxury of a Caribbean vacation spot.

Canadian injection molding machinery maker Niigon Machines Ltd. Reported by other industry news outlets, the developments were confirmed to Canadian Plastics by Paul J. Denton, managing director, restructuring at Toronto-based financial consultants Farber Group. Niigon was founded in under the original name of Athena Automation Ltd. Schad, who is now 91 and a member of the Plastics Hall of Fame, had founded Husky Injection Molding Systems in , and sold that company in Your email address will not be published.

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