Comments on: Residential School money settlement http://www.bankruptcy-canada.ca/bankruptcy/2008/04/residential-school-money-settlement.html Personal Bankruptcy Canada Blog Fri, 10 Feb 2012 15:23:44 +0000 hourly 1 By: Barton Goth GCO Bankruptcy Trustees http://www.bankruptcy-canada.ca/bankruptcy/2008/04/residential-school-money-settlement.html#comment-30731 Barton Goth GCO Bankruptcy Trustees Tue, 29 Apr 2008 15:09:39 +0000 http://www.bankruptcy-canada.ca/bankruptcy/2008/04/residential-school-money-settlement.html#comment-30731 This really depends on the nature of the settlment. Therefore, it will be necessary to determine what portion of the settlement payments relate to pain and suffering, as this portion will be exempt and therefore not seized by the trustee. Furthermore, if the funds are exempt the Superintendent has put together a Position Paper in May 2006 that states that any monies received in this type of settlement that do relate to pain and suffering and therefore should not be considered when calculating surplus. This really depends on the nature of the settlment.
Therefore, it will be necessary to determine what portion of the settlement payments relate to pain and suffering, as this portion will be exempt and therefore not seized by the trustee.

Furthermore, if the funds are exempt the Superintendent has put together a Position Paper in May 2006 that states that any monies received in this type of settlement that do relate to pain and suffering and therefore should not be considered when calculating surplus.

]]>