August 29th, 2009 by Questions

We were incorporated and are no longer in business. The main shareholder became ill with cancer and was unable to do any work
(the main person). The remaining shareholder (estimator / office guy) could not do the work we lost all businees and employee`s
We owe GST 30,000 dollars and are no longer financially able to pay. Can the shareholders claim bankruptcy? We have lost everything there is nothing left to take?

Posted from: Alberta


One Response to “GST”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:

The filing of a personal bankruptcy of the shareholders / directors would be able to deal with the GST as well as any debt that they may be presonally responsible for as a resul tof the business. The best thing to do is to contact a local trustee and they will help you to determine if it in fact a bankruptcy that will fit your situation best and if so help you to understand the process and how to get things under way.

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