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I recently found out that MBNA is owned by TD Canada trust. Would this mean that this is construed as one vote or two in a consumer proposal? I recently filed for a CP and these two are my biggest creditors and a no vote would kill my proposal.

Posted from: Ontario

One Response to “MBNA & TD”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Each creditor gets one vote for every dollar of debt. So if they have the majority control of the vote they could potentially vote down the proposal However, both of those creditors have a pretty good track record. So I wouldn’t be to worried.