August 7th, 2012 by Questions
As a business owner are my personal assets affected if my company files for bankrupt
Posted from: Alberta
August 07, 2012 at 5:54 pm, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
This really depends on the types of debt you have in the business. As a general rule, if you have any debt to CRA or have any personal guarantees then you are on the hook personally and may not even be wise to file a corporate bankruptcy. But to know for sure you should meet with a trustee and they will help you determine this.
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