Can I declare bankruptcy for my previous business?
October 2nd, 2014 by Questions
Hi; We are considering the option of bankruptcy and I have read through your website but have two questions I was hoping that you could answer…
First; most of the monies owed are for taxes from a business I had that was not incorporate yet ceased operation in 1994 and have since started another company that is incorporated as a limited company here in BC, If I were to declare bankruptcy am I able to maintain ownership of this company? I am currently on record as a director however the company has yet to earn a profit and has limited assets… I don’t care either way
Second; I have +/- $3000.00 due in tax returns + eligible GST credit… can these funds be used to pay for the bankruptcy proceedings ?
Posted from: British Columbia