2025-09-04
Will Bankruptcy Erase All Of My Debt?
Bankruptcy
The intention of Canadian bankruptcy law is to provide honest and overextended debtors the opportunity for a financial fresh start.
Can I Still Operate My Business If I Am Bankrupt
2010-06-27
It depends on the circumstances.If your business is incorporated - a bankrupt individual is precluded from acting as a director of an incorporated company pursuant to applicable provincial or federal business corporations acts. Moreover, a bankrupt’s shares in the incorporated company are property that vests in the Trustee upon filing for bankruptcy. Sometimes these issues can be resolved such that a bankrupt can continue operating the same corporation. If your business is a proprietorship – the vast majority of proprietors continue operating their business after bankruptcy; however a bankrupt proprietor must disclose the bankruptcy to certain parties in certain circumstances. For more information on how bankruptcy would affect you specifically, please contact one of our offices to discuss your situation. Regards, Lana Gilbertson, CIRP, Trustee MNP - Vancouver 604 637 1599
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You already know the many benefits of skilled money management. The fact you’re reading this blog post says at least that much. Your challenge, like for most households, is how to navigate the seemingly infinite demands on your frustratingly finite income.
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MNP’s Atlantic Canadian guide to affordable fun
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