November 28th, 2015 by Questions
Would a seizure order by CRA be cancelled, when someone file for bankruptcy?
November 29, 2015 at 3:42 pm, Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said:
Generally speaking the Stay of Proceedings prevents any further collections by your creditors including CRA. There are some exceptions; these exceptions include, but are not limited to, non-payment of source deductions for employees. In this case the CRA has a trust claim in your assets. As well, CRA takes the position that third party demands issued against your accounts receivable immediately transfers ownership of those receivables to CRA. You may wish to talk to a local trustee to review the details of your situation.
Log in to Reply
Please post a follow up comment below:
(Note: comments are reviewed by moderators and then posted after approval. In addition, due to high volume some of the comments might not be posted.)
You must be logged in to post a comment.