December 2nd, 2009 by Questions
in case if a limited company goes bankruptcy,is the company liable to pay the amount public has invested into it …
Posted from: Alberta
December 02, 2009 at 9:11 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If a limited company files for bankruptcy the investors only would get money if there was sufficient to pay all the debt covenants first. in an effort to reduce your tax, but only if you are making all of the required payments in the bankruptcy at the same time.
In terms of tax preparation, you can have anyone you want prepare it, just discuss theis with your trustee.
As you can imagine this is very rare to see as the whole premise behind a bankruptcy is that there isn’t sufficient funds to go around. So the liklihood of an investor receiving anything is very small.
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