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

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.

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.

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.

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

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

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

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).

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.

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.