2009-03-03
The Bankruptcy and Insolvency Act contains provisions that allow a third party to claim possession of property in possession of a bankrupt. The process for claiming the property is set out in Section 81 of the BIA and requires the third party to file with the Trustee a proof of claim (Form 74) verified by affidavit giving the grounds on which the claim is based and sufficient particulars to enable the property to be identified by the Trustee. If this evidence is supplied, and assuming that the sale of property was between unrelated parties and for fair market value, the Trustee should be able to release that property to the purchaser. Judy Scott Meyers Norris Penny Limited British Columbia 604.949.2113
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.
