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
2025-04-25
Debt collection can be a daunting experience for many Canadians. Navigating the process alongside MNP’s team of experts can help you better understand how it will impact your credit score and gain the knowledge needed to maintain your financial health well into the future.
2025-04-25
Bankruptcy
Filing for Bankruptcy is a significant decision that can provide a fresh start for Canadians overwhelmed by debt. However, it’s essential to approach this process with caution and awareness to avoid common pitfalls and make informed decisions to protect your financial future.
2025-04-24
Filing a Consumer Proposal can feel overwhelming, but it’s not the end of your financial journey.
