New Proposal Limit

I have heard that the new legislation that has been passed raises the consumer proposal limt to $250,000, yet this provision of the bill has not been incorporated into the legislation. Is there any thought amongst those in your profession if this will actually become law and if so when?

Posted from: Alberta

One Response to “New Proposal Limit”

Barton Goth – Goth & Company Inc. – Bankruptcy Trustees said...

It is pure speculation but opinion across the trustee community is sometime around November 2008. However, this is something people have been speculating over for two years, so I can’t say that I have a lot of confidence in that date. The only thing that makes it seem more probable is that a portion of the changes have been implemented just recently so that suggests the rest of the bill will likely be adopted soon.