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


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