Canadian Us Bankruptcy Laws Are They The Same

2008-12-22   minute read

Canadian and U.S. bankruptcy laws have some similarities but many differences.  In most cases, if you need to do a bankruptcy, you would do it under the laws of the country in which you are living and in which you plan to continue living.  You can do a Canadian bankruptcy while you're living in another country if you meet certain criteria - i.e., if you have assets in Canada or if you operate a business in Canada. Whether or not it makes sense for you to do a bankruptcy under Canadian law while you are living elsewhere depends on who your creditors are, how much you owe compared with your ability to pay, whether you plan to return to Canada, and other factors.  If you'd like more information, feel free to get in touch with me. This is a very broad area and I think it would be more useful for you to get specific information based on your particular situation. Judy Scott - Meyers Norris Penny Limited 604.949.2113   1.866.568.1335

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