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
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.
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.