bankruptcy & proposals

June 3rd, 2007 by Questions

Does a proposal fall under the Bankruptcy Act? Is it part of the Bankruptcy Act?

Can a trustee encourage/or discourage a person to go with either choice?

Questions

One Response to “bankruptcy & proposals”


, Barton Goth GCO Bankruptcy Trustees said:

Yes, a proposal falls under the Bankruptcy and Insolvency Act, it is a specific legislative mechanism that can allow some peopls to avoid having to file a bankruptcy

As for the trustee’s role, definately he can try to influence a persons and typically this is done based on how likely the trustee feels the proposal will be accepted, liklihood that the proposal will be accepted by creditors or any type of similar reasoning.

However, remember it is ultimately your decision.

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