January 24th, 2009 by Questions

If I file bankruptcy (this meaning, my small sole propietorship business and myself, are now bankrupt).
Can I still operate my business under the same name, with a fresh start?
(I currently rent everything in the shop, I own nothing… Tools, equipment, everthing..Belongs to other shop).
If so, can I still write cheques & receive them for business puposes?

Posted from: Ontario


One Response to “bankruptcy”

, A licensed trustee said:

If everything you’ve said in your posting is true then you should be able to continue to operate the business (although I expect you will need to open a new bank account). Whenever a business is involved you have to be more careful, particularly with a sole proprietorship, since legally the business is not a separate entity from yourself.

Use the links to find a trustee in your area and give them a call – they can help you sort all of this out.

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