Canadian Bankruptcy and U.S debts
May 10th, 2008 by Questions
Am I required to include ALL debts in bankruptcy even if the debtor is an U.S company and the debt MIGHT be statute barred there?
I spent a few years in the U.S before moving to Canada in 1995. At the time of leaving the country I owed creditors in the U.S a total of 35,000 dollars. Fast forward to 2008 and now I owe Canadian creditors 180,000 dollars.
My impression is that the U.S debts are now statute barred and including them in any proposal or bankruptcy in Canada will revive the SOL in the U.S.
Should I include those pre-1995 debts or can I just ignore them?
Posted from: Ontario