Regardless of the types of creditors you owe, and how much you owe, you still have options available and the opportunity to maximize recovery to creditors and reduce personal financial liability.

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.

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.

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

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....

Confidence in a continued economic recovery is growing shakier by the day as more provinces declare a second wave of COVID-19. While legislators would prefer to avoid another lockdown, they are urging consumers to limit social gatherings and non-essential activities outside the home.

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

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.

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.