own property in another country

October 30th, 2009 by Questions

I have a follow-up question…if bankruptcy is declared in Canada, but you own property in another country and have Homestead protection on said real estate will only assets that can be liquidated in Canada (e.g., small business) be affected in order to benefit Canadian creditors?

Thanks

Posted from: Ontario

Questions

One Response to “own property in another country”



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

You will really need to meet with a local trustee to discuss this further, but as a general rule all property you own regardless of where it is located vests in the trustee upon the filing of a bankruptcy.

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