When does my bankruptcy get advertised?

December 18th, 2005 by Questions

I have non exempt assets specifically RRSP’s of $12,000 and no other assets. In B.C is it true if the assets are over $10,000 then it has to be in the legal section of the local newspaper. Is it $12,000 minus the taxes which would then make it below $10,000. (p.s these funds are in a labor sponsored so there is an additional 15% provincial and 15% federal tax over)

your answer would be greatly appreciated.




One Response to “When does my bankruptcy get advertised?”

, Barton Goth GCO Bankruptcy Trustees said:

It doesn’t matter where you file in Canada, in every estate where the realizable assets of the
bankrupt, after deducting the claims of secured creditors, will not exceed $10,000 the trustee is required to publish a notice of the first meeting of creditors in a local newspaper, as soon as possible and no later than five days before the first meeting of creditors.

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