2009-10-14
The answer to this question depends on the type of business you are operating. If you are a sole-proprietor (essentially operating a business under your own name), then you would still be allowed to operate it if you filed for bankruptcy. If you were the director of an incorporated business, most provinces have provincial company acts that require you to resign as a director of the company (for the period that you are an undischarged bankrupt). Therefore, if you have another person who is willing to take on the role of being a director of the company, and your ownership in the company is not a significant asset that the trustee must take from you, then there is a good chance that you would be able to continue to operate the business. There are a number of variables that may affect your specific situation. I would suggest that you contact a trustee from Meyers Norris Penny in your local area if you wish to pursue this matter further. Wendy McMurtrie Meyers Norris Penny Limited - British Columbia Phone: 778-571-3520
2025-11-17
November 16-22, 2025 is National Addictions Awareness Week (NAAW) in Canada. Every year, organizations across the country observe this important week and do what they can to help those who may be struggling with addictions, while raising awareness and sharing information as to how family and friends can create support networks.
2025-11-13
Debt Solutions
Many may feel ashamed, embarrassed and completely overwhelmed about their debt. People experiencing debt-related stress often suffer from many associated health issues, such as sleepless nights, headaches, tension and more. And feeling out of control when it comes to managing their debt payments often prevents people from taking control of their financial situation. Not all debt results from overspending, living beyond one’s means, frivolous behavior or money mismanagement. To answer your questions about the stigma of debt, and to learn about the options available to you, tune into our Stigma of Debt VLOG series below with MNP's Licensed Insolvency Trustees.
2025-11-12
Bankruptcy Consumer Proposal
Summer fun doesn’t have to come with a hefty price tag.
