2012-02-21
The Enforcement of Money Judgements Act was passed some time ago but has not yet been proclaimed into law in Saskatchewan. We have been advised that it is expected that the law will be brought into effect some time this spring. This new law will change (significatly in some cases) which assets are exempt in a bankruptcy. While the regulations that set out the amounts and nature of the assets that will be exempt have not been released we do have some information on the proposed changes. Changes are also expected in the amounts than can be garnisheed from wage earners.
If you are contemplating insolvency proceedings in Saskatchewan please discuss this issue with us, it may change your decision.
As always, please do not hesitate to contact any member of the MNP Insolvency Team to discuss this further.
2021-03-09
Bankruptcy
Fear of losing needed or cherished assets is one of the most common reasons why people are hesitant to file a Bankruptcy. And a motor vehicle is understandably one of the assets potential bankrupts are most fearful of losing. Unfortunately, there isn’t a universally black or white answer to this question. Here’s why.
2016-03-28
Bankruptcy
Bankruptcy is a process that releases you from most of your indebtedness by handing over some of your property. In other words, bankruptcy lets you erase your debts and put an end to your indebtedness within a few months.
2012-08-01
Bankruptcy
Will I lose my car if I declare bankruptcy?
