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

"*" indicates required fields

Name*

Phone Number*

Email*

This field is hidden when viewing the form

What's the best time to contact you?*

Location*

What city do you live in?*

This field is hidden when viewing the form

Source

How can we help you?

Agreement*

I understand that Bankruptcy-Canada.ca does not provide debt relief services directly and agree to securely share this information with a local Licensed Insolvency Trustee (LIT) for a free, confidential consultation.

Phone

This field is for validation purposes and should be left unchanged.

Select Trustee By Province

Transferring the principal of a corporation

Is there any concerns with transferring the principal of a corporation into someone else’s name. The Existing corp. has only one shareholder who is contemplating personal bankruptcy but not corp. bankruptcy.

Posted from: Ontario

Share this post:

X (Twitter) Facebook LinkedIn Email

One Response to “Transferring the principal of a corporation”

Doug Stuive, CA | Trustee | CIRP said...

A transfer of this kind is a reviewable transaction. This means the trustee would need any and all documentation relating to the corporation. They would be looking at the value of that corporation to make sure there are no issues that would affect the bankruptcy. If the shares in your corporation hold any value then a transfer of this kind would become an issue.