Blog

Everything you need to know about CEBA loans and your repayment options

2024-02-12

National Corporate Insolvency Firm, MNP Ltd. Expands Team Through Merger with The Bowra Group

2022-12-5

MNP Ltd., the insolvency subsidiary of national professional services firm MNP LLP, is pleased to announce that it has merged with The Bowra Group, effective December 1, 2022.

What is a corporate bankruptcy, really?

2021-12-10     Julie Kennedy

This article will discuss the corporate bankruptcy process and how it generally works.

The importance of viability assessments — for both creditors and debtors

2021-12-06     Paul Pettigrew

Both parties in a creditor-debtor relationship benefit from clear communication, mutual respect, and a shared understanding of the facts. Viability assessments are one tool for achieving that.

What is a receivership?

2021-11-30     Julie Kennedy

A receivership is a remedy available for secured creditors to recover amounts owing under a secured loan when a debtor company is unable or unwilling to repay the outstanding debt.

An introduction to business reviews

2021-10-25     Julie Kennedy

A business review, also referred to as a look see or viability assessment, is a comprehensive review of a company’s current financial position.

Five common themes we often see in faltering businesses

2021-10-25     Paul Pettigrew

There are many reasons a business may become insolvent, many of which are apparent long before it is rendered bankrupt or placed in receivership.

MNP LTD congratulates Derek Cramm on his upcoming retirement

2021-04-28

Can you afford to increase your business debt right now?

2020-10-29

Strategies For Creating Your Recovery Plan

2020-06-25    Victor Kroeger

As the economy reopens and we get back to work, we need to be proactive in protecting our businesses.

Federal Financial Support for Businesses

2020-04-27    Grant Bazian

The COVID-19 crisis has had significant impacts on businesses across Canada: From storefronts having to temporarily close due to physical distancing to public corporations who have seen a decline in share prices due to the economic fallout.

Status of Agriculture Industry in Canada

2020-04-24    John Haralovich

All industries have threats that will affect the success or failure of a business. The Agriculture (“Ag”) industry is no different and some would suggest it has more threats that could affect farmers than a typical manufacturing business.

Your Corporate Financial Health and the COVID-19 Crisis

2020-04-17

The COVID-19 pandemic and catastrophic collapse in oil prices have devastated organizations across the country and around the world. Businesses that have never experienced financial difficulties before are suddenly facing all sorts of new and frightening questions.

WEPPA Changes on the Way

2019-06-24    Sheldon Title    John Haralovich

In an article written for Rebuilding Success, MNP LTD’s Sheldon Title, CIRP, LIT, CPA, CA and John Haralovich, CIRP, LIT, CPA, CA, CMA, CFE, recently discussed federal changes to the Wage Earners Protection Program Act (WEPPA) and what increased payments and eligibility adjustments mean for Canadian debtors and employers.

SCC’s Final Word in the Redwater Energy Corp. Bankruptcy

2019-04-24    Sheldon Title

The question of who pays for the environmen­tal clean-up of a bankrupt company is one that has dogged Canadian insolvency prac­titioners for years.

After Redwater: What Now?

2019-02-07    Victor Kroeger

According to a recent Supreme Court of Canada decision released on Thursday, January 31, 2019, the assets of insolvent exploration and production companies must go first to reclaiming abandoned wells before paying creditors.

The Highs and Lows of Serving Canada’s Newest Emerging Market

2018-07-12    Grant Bazian

As the country moves towards legalization in 2018, the cannabis industry is quickly emerging as one of the most promising Canadian markets.

Four Signs Your Business Might be in Trouble and Needs Help Restructuring

2017-11-15

Sometimes, entrepreneurs get so wrapped up in trying to grow their business they miss some obvious signs that it may be in financial trouble.

Ontario’s Unique Spot in the Canadian Marketplace

2017-08-29    Sheldon Title

In Ontario, we’re finding that companies are experiencing little growth and while our local economy is not necessarily suffering, many businesses are challenged in terms of growing their businesses.

Taking Control of Debt in Atlantic Canada

2017-07-28    Derek Cramm

There are a multitude of reasons as to why an individual or business might be experiencing financial difficulties. It’s important to know that you’re not alone — and you have options.

Don’t Just Know Your Client – Get the Whole Story

2017-07-18    Olivier Boyd

“KYC” – No, it’s not a new chicken restaurant – its stands for “Know your client,” a sacred mantra taught to every banker as he or she embarks on their banking career.

When to Call a Corporate Recovery Professional

2017-06-06    Sheri Aberback

When you’re working 24 / 7 to drive growth, it is not always easy to get a comprehensive picture as to your business’ true financial situation — and where it’s headed.

Top 10 Warning Signs for Retail Lenders That Financial Problems May Be on the Horizon

2017-03-29

A recent survey completed by AlixPartners identified that the retail industry has been and will continue to be, the industry in the US most impacted by technology disruption.

Canadian Corporate Recovery – the Stuff Movies Are Made Of?

2017-02-15    Rick Anderson

While the story of Bre-X certainly played out like a movie script, like most Canadian scandals, it garnered little interest outside of the mining industry south of the border, especially, almost 20 years later.

Top Eight Signs Your Client May Be In Financial Difficulty

2017-02-09

Assessing whether your client is experiencing financial distress does not require access to detailed financial information, but rather facts which are readily available if you keep a keen eye and watch for them.

Paying Out of Pocket to Keep Your Business Afloat

2016-11-28

Ultimately, the purpose of any business is to make a profit. The value of any business is largely determined as a multiple of its profit or cash flow.

The Invaluable Role of Your Chief Restructuring Officer

2016-11-10    Raoul Heredia

The number of corporate reorganizations that have taken place in the past decade has increased significantly in Canada. There have been several high-profile transactions that have raised the level of awareness of terms such as CCAA (Companies’ Creditors Arrangement Act), NOI (Net Operating Income), Proposal, BIA (Bankruptcy and Insolvency Act) and Chapter 11 to the ordinary citizen.

The Balancing Act Lawyers & Restructuring Insolvency Professionals – Working Together

2016-05-17    Sheri Aberback

There are many reasons why a business may find itself facing financial. Contributing factors can trigger a host of underperformance issues including declining earnings, liquidity and cash flow concerns, and stakeholder pressure. To a large extent, demand for restructuring and insolvency assistance runs counter-cyclical to the economic situation; when times are hard and businesses are struggling to fulfil financial agreements made in happier times. As we struggle in an economic downturn and a weakened loonie, many Canadian businesses are looking for debt solutions that allow them to manage their financial obligations and get back on track to driving growth.

MNP Acquires PwC Personal Insolvency Practice in Atlantic Canada

2016-02-29    Grant Bazian

MNP LTD. will acquire PwC Debt Solutions, the Atlantic Canada Personal Insolvency practice of PwC Canada (PricewaterhouseCoopers LLP) effective March 1, 2016.

Creditors’ rights in a bankruptcy proceeding – do you have any?

2016-02-18    Sheri Aberback

This is a question that gets asked quite frequently in insolvency files. Do we have any rights? If so, what are they?

Secured Creditors’ Rights Under Ontario’s Personal Property Security Act

2016-02-16    Mary Plahouras

The Personal Property Securities Act (the “PPSA”) is a provincial statue used to regulate and enforce security. It provides the mechanism for managing priority of competing security interest.

Tough Times Mean Tough Decisions and a Stronger Future

2016-02-10    Eric Sirrs

Given today’s economic climate, the challenges oilfield services companies are experiencing as they to stay afloat is certainly not surprising news.

Struggling With Your Small Business? Let’s Talk About Your Options.

2015-10-27    Gord Neudorf

If you are the owner of a small business that has fallen on tough financial times, given the current economic downturn, you are certainly not alone. This doesn’t make it any easier.

Does Your Corporation Need a Chief Restructuring Advisor?

2015-10-08    Mary Plahouras

Most Canadian corporations have well-documented policies and procedures regarding governance, strategy and risk management. That being said, financial distress can still occur and the corporation’s Directors play an essential role in detection and response.

North American Markets Turn Sharply Lower

2015-09-29    Grant Bazian

MNP’s Take: As we enter a recession, Canadians are struggling now more than ever to maintain control of financial responsibilities and increased debt loads. With the Canadian dollar experiencing a significant downturn and a global struggle for economic growth causing uncertainty among investors – it’s difficult to ascertain when we can expect a turn around.

Corporate Recovery & Restructuring - Getting Your Business Back on Track

2015-09-14    Grant Bazian

Whether you are looking for services as a business struggling with debt or a creditor working to minimize risk and protect your investment, it’s important to develop solution orientated frameworks and customized strategies that meet the expectations of your stakeholders and are aligned with your objectives as you work to navigate from uncertainty, to success.

Understanding Securities Firm Bankruptcy

2015-08-20

Suffice to know, there is no investor protection mechanism against investment losses in a financial market decline. Risk is associated in everything we do in the investment world. These risks can range from stock market risk, interest risk, currency risk, social, political risks and so on. However, all investors are protected through two agencies as follows: Canadian Investor Protection Fund (CIPF) and the Mutual Fund Dealers Association (MFDA).

Insolvency and Your Personal Business

2015-05-07    Gord Neudorf

Many business owners reach out to me for restructuring advice. On every consultation my first question is “is your business incorporated?”

Can I Keep My Business if I Declare Personal Bankruptcy?

2015-03-31

I am often asked by professionals and self-employed individuals about the status of their business if they were to file for personal bankruptcy and whether they could keep their business alive.

Warning Signs Your Company May be in Trouble

2015-03-16

Many individuals who run small- to medium-sized businesses, do so either as proprietors or corporations. We often see individuals who have started a company, taken steps to incorporate and then run into financial road blocks.

What business debts will I be personally responsible for?

2015-03-13    Joel Kideckel

There are many benefits to operating your own business when the business is successful, but what happens when it’s struggling. According to Industry Canada, only 51% of new small-to-medium size businesses are still operating after their first 5 years.

How to Save Your Small Business from Declaring Bankruptcy

2015-02-12    Gord Neudorf

If you are business owner, you understand there are countless risks that can affect your business, sometimes with little or any warning.

Agriculture Debt Options

2014-11-14    Randy Kobbert

The agricultural industry is influenced by a multitude of factors, many of which are beyond the control of a local producer.

Can I file for Chapter 11 Bankruptcy?

2014-10-30    Melanie Fuller

Chapter 11 is a Chapter of the U.S. Bankruptcy Code that generally provides for the reorganization of corporations, partnerships or proprietorships.

What Happens When Your Business Declares Bankruptcy?

2014-10-23    Gord Neudorf

If you are an entrepreneur, you understand there are countless factors that can impact on the success of a business. If you have experienced the stress and pain of a failed business venture then you’ve learned that the nightmare doesn’t end the day you close the doors.

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Staff at Sprague Rosser Demanding Pay - Video

2014-08-15    Eric Sirrs

MNP LTD Trustee Eric Sirrs gave his expert opinion on CTV Edmonton about Sprague Rosser being in receivership and their staff demanding payment they are owed.