There were three interesting stories in the press this week about pensions and bankruptcy in Canada. On Wednesday the CBC ran a story on how the Liberals vow to change bankruptcy laws. Here’s a quote from the story: The Liberal Party says it is committed to changing Canadian bankruptcy laws so former employees of failed […]
On September 18, 2009 the government of Canada brought into force all of the remaining amendments to the Bankruptcy and Insolvency Act that were approved by Parliament back in 2005 and 2007. At the time they were approved, the economy was booming and bankruptcy filings by individuals were stable. One of the goals of the […]
Today is Thanksgiving Day in Canada, and there are many stories in the media about how we should all give thanks. I agree. We are lucky to live in Canada. But what does Thanksgiving have to do with bankruptcy in Canada? I have written a number of articles over the last two months criticizing some […]
My name is Bruce Gandossi. I’m a chartered accountant and licensed trustee in bankruptcy in British Columbia. During my over 25 years of working with people in financial trouble, I am here to report that the period from 2005 to 2009 has been the most volatile period I have witnessed. Starting in 2005 the economy […]
Apparently it is possible to “Fight City Hall”. Let me explain. Back on September 14, 2009, five days before the new bankruptcy rules came into force, I posted an article describing the Bad News and Good News from the new bankruptcy rules. One of my biggest complaints about the new rules was a new disclosure […]
Since the federal government announced back on August 19 that new bankruptcy rules in Canada would come into force on September 18, 2009, I have posted three articles describing the new bankruptcy rules in Canada. For an overview of the new rules, please see the following articles: New Bankruptcy Rules in Canada: The Good News […]
After waiting for four years, the new bankruptcy rules finally come into force on September 18, 2009. The new rules will have a significant impact on many Canadians in financial trouble. When the new rules were announced in August I posted a summary of what you need to know about the new bankruptcy rules in […]
Here’s a prediction: the new bankruptcy rules that will come into force in Canada on September 18, 2009 will lead to a significant increase in the number of consumer proposals filed by Canadians. If you are in financial trouble, you have a number of options, including repaying your debt on your own, getting a debt […]
“Younger Canadians More At Risk from Debt” was the headline of a news release I received from the Canadian Association of Insolvency and Restructuring Professionals (CAIRP). This article emphasized that those most at risk of filing bankruptcy in Canada during this recession are Canadians age 35 and younger. There are many factors that CAIRP identifies […]
New bankruptcy rules will come into force in Canada on September 18, 2009. Last week I reviewed What You Need to Know About the New Bankruptcy Rules in Canada. Today I’d like to comment on the most radical change: how your income will impact on the length of your bankruptcy in Canada. When you go […]
