work tools and bankruptcy
April 6th, 2009 by Questions
In Ontario would a sole proprietorship that was publishing children books and have about 1600 printed books filing for bankruptcy be allowed to keep them as tools of the trade or would they have to go to auction as they are finished products in inventory?
Would this inventory have to be listed on bankruptcy forms as assets of value, at cost or retail value?
Also could the business drop one word from their old business name, register a new name very similar and use the same logo, domain name, etc and be allowed to still sell the books when the graphic artist & editor were never paid for their services? Could the graphic artist & editor make a claim against the new company for profiting on their services never paid for?
Posted from: Ontario