Crossborder Bankruptcy

March 21st, 2007 by Questions

I am a Canadian. My small business in Georgia has become insolvent. I have also incurred significant personal debt which I cannot pay back. I have moved back to Canada. Should I declare bankruptcy in Canada or do I need to declare backruptcy in the US?

Questions

One Response to “Crossborder Bankruptcy”



, A licensed trustee said:

If you file bankruptcy in Canada you will be potected only so long as you remain in Canada – if you have assets or income in the US then your American creditors will continue to pursue your interests in the US.

Unfortunately, you will have to contact an American Bankruptcy lawyer to determine whether or not you can file for bankruptcy in the US if you no longer reside there.

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