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
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.
2025-10-06
MNP Consumer Debt Index
Albertans’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
