What happens if you win an ICBC settlement after a proposal is started?

2010-07-08

The answer to your question likely depends on timing.

Before you can “win” a settlement, there would be an action. If the action arose prior to filing your proposal and/or prior to court approval of the proposal, you need to disclose that to the proposal trustee if didn’t already. Ultimately, your proposal trustee would be in a position to advise you further based on the specific circumstances.

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If the action arose after court approval of the proposal, then there is generally no action required on your part, unless the terms of the proposal require you to disclose post-proposal activities/monies received, etc.

Either way, I would recommend that you discuss this with your proposal trustee so that you can obtain a correct answer based on your specific situation.

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