March 15th, 2009 by Questions
Are My stocks at risk if I do a consumer Proposal?
I`m sure that Stocks are considered na asset if I file for Bankruptcy.
Posted from: Saskatchewan
March 16, 2009 at 8:24 am, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:
You don’t directly loose your stocks if you file a consumer proposal as there is not the same vesting of assets that occurs in a bankruptcy. However, your portfolio must be valued, the recovery that would be received in a bankruptcy must be estimated and then the proposal must offer a greater recovery to the creditors than a bankruptcy. So the value of the proposal will directly impact what you need to offer to your creditors.
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