Business VS personal Bankruptcy
June 13th, 2006 by Questions
My husband and I are partners in an incorporated company in Ontario. We will be disolving the company and are considering bankruptcy. The vast majority of information on the Bankruptcy Canada site is regarding personal bankruptcy. Can you recommend a site that deals mainly with corporate insolvency?
One Response to “Business VS personal Bankruptcy”
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June 14, 2006 at 2:43 pm, Barton Goth, GCO Inc. Bankruptcy Trustees said:
There are not very many quality sites that deal with corporate bankruptcy as it is so dependent on specific characteristics of your situation. However, be advised that if you are dealing with an incorporated company that has relatively few unencumbered assets and are considering personal bankruptcy, there may be no reason to place the company into bankruptcy. Simply close the company, once this is done file a personal bankruptcy / proposal and that will effectively clear up any personal debts you may have as well as any shortfall from the corporate side of things that you would have.