CONSUMER PROPOSALS JOINTLY
March 29th, 2009 by Questions
what fees are payable to the gentleman viewing our documents and paying the trustee, what legal fees has to be paid when preparing and submitting the CONSUMER PROPOSALS.
Posted from: Ontario
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March 30, 2009 at 9:38 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
If you are referring to the trustee’s fee, who is technically referred to as the Administrator during a consumer proposal, then there is a tarrif that is contained in the Bankruptcy & Insolvency Act that stipulates how much that fee is. This calculation is based on the amount that is offered to and accepted by the creditors and breaks down as follows:
– $ 750.00 payable on filing a copy of the consumer proposal with the Official Receiver
– $ 750.00 payable on approval or deemed approval of the proposal by the Court.
– 20% of the dividends paid to creditors under the proposal,
– Two counselling sessions – $ 85.00 plus G.S.T. per session
– $ 50.00 filing fee with Official Receiver
– $ 50.00 filing fee with Court