FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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How long after declaring bancrupcy do you have to wait before you could open a limited company? And can you have employees in your company while in your bancrupcy term (9-21 months). Thank-you

Posted from: British Columbia

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One Response to “Unsure”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

The challenge with opening a limited company is that you are not permitted to be a director of the limited company while you are in bankruptcy. So being director is out of the question until you receive your discharge. But you can still open one, as long as you arrange for someone else to be the director. As for the employee issue, there is nothing in the Bankruptcy and Insolvency Act that comments as to whether you can or can’t have any employees during the bankruptcy.