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DNS

I am an owner of a company in canada and owner of a company in the states if i go bankrupt in canada because of CRA debt will it affect my american business

Posted from: Ontario

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One Response to “DNS”

A licensed trustee said...

If you file for bankruptcy in Canada you assign all of your assets, including your US company, over to your trustee. Your trustee won’t want to operate your businesses so unless you have some way to “buy them back” they will probably be closed.

Business bankruptcies are beyond the scope of this site – contact a trustee or insolvency lawyer for more detailed information.