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A Licensed Insolvency Trustee (LIT) is a regulated professional authorized to administer bankruptcies and proposals in Canada. Their role includes: Assessing the debtor’s financial situation. Advising debtors on their options. Filing the necessary paperwork with the court. Administering the bankrupt esta...
Can I file bankruptcy online in Canada? This is a question we’ve been getting a lot lately. And the answer is yes, you can file bankruptcy online in Canada; just not by yourself. The only ones the federal government authorizes in Canada to do bankruptcy filings are licensed insolvency tru...
At Hudson & Company, our Licensed Insolvency Trustees, can help you overcome your financial problems and put you on a path where you can become free from debt. In Canada, all bankruptcies and proposals must be filed through a Licensed Insolvency Trustee (AKA Bankruptcy Trustee) – a designated...
It originally brought suit before the United States Bankruptcy Court for the Southern District of Texas, alleging avoidance under Canadian law (the company is the subject of a CCAA in Canada and chapter 15 case in the United States) and the Bankruptcy Code. After the Bankruptcy Court denied ...
debts to creditors. The status is ascribed by the court, usually at the initiative of the debtor, at the point when they realise they cannot meet their financial liabilities. In this articleBankruptcy Canadagive an overview of different types of bankruptcies and their effect on business’ income...
Bankruptcy law is changing in Canada. Bill C-12, An Act to amend the Bankruptcy and Insolvency Act, the Companies' Creditors Arrangement Act, the Wage Earner Protection Program Act and Chapter 47 of the Statutes of Canada 2005, was passed by Parliament and received Royal Assent on December ...
Americans want to do the same in Canada. Each has to use the domestic money of the other when it does so. If an American wishes to lend money to a Canadian or to purchase something from him, he receives Canadian dollar notes from the Canadian Government to make his Canadian transactions,...
American Airlines parent AMR Corp. (AMR) filed for bankruptcy after failing to secure cost-cutting labor agreements and sitting out a round of mergers that dropped it from the world’s largest airline to No. 3 in the U.S. With the filing, American becam
Not everyone has to file bankruptcy in Canada. The majority of our clients never do. We help many people and companies stay clear of bankruptcy. That is why we can establish a new restructuring procedure for paying down debt that will be built just for you. It will be as one-of-a-...