self-employed
October 23rd, 2008 by Questions
I would like to know what happens with ainvestment account in the case of consumer proposal or bankruptcy ?Could be kept open and use it?
Posted from: Quebec
One Response to “self-employed”
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October 24, 2008 at 9:11 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
In a proposal there is no vesting of assets, so this means that this investment account can remain untouched as long as it is evaluated, determined what would happen in a bankruptcy and you then offer more than would be available in a bankruptcy.
So at this point I suggest you contact a local trustee, arrange a time to meet and they can give you an idea of what they think will have to be offered to get your creditors to cooperate.