CP: Debt to Family
April 29th, 2013 by Questions
If I include a family debt in a consumer proposal, will family have voting power / receive partial payment of the debt the same as any other creditor would? I have been reading here that family debt can be included in a CP or BK but nowhere does it explain how that creditor fits in with the rest of the gang of creditors.
Would this not open the whole bankruptcy / CP thing up to a hellofalot of fraud? i.e.. “Yes, I owe my FAMILYMEMBERX $50,000 and another $20K divided amongst 3 other creditors – so my family member has the most voting power if I were to file a proposal” … not to mention the actual legitimacy of the family members debt…
Posted from: Nova Scotia