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
2025-08-05
Bankruptcy Consumer Proposal
Losing your job can be frustrating and, even more so, managing your financial wellbeing while you’re unemployed. However, you can successfully navigate the situation with the right budgeting tips.
2025-08-04
Since it’s impossible to predict or prevent most medical conditions or emergencies, the best way to handle them is by planning and preparing for them.
2025-08-01
If you are considering filing for Bankruptcy, it is important to understand the impact on your employment and salary.
