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What is the criteria for filing bankruptcy

What is the criteria for filing bankruptcy?

Is there another solution to the problem?

If executives have signed a personal guarantee, what does bankruptcy meen to them?

Are the executives of a company responsible for more than other shareholders?

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One Response to “What is the criteria for filing bankruptcy”

Barton Goth, GCO Inc. Bankruptcy Trustees said...

While bankruptcy is one possible option, you may consider the possibility of filing a consumer proposal or possibly looking into filing a debt management plan or, depending on what province, orderly payment of debt.
The best thing to do is to simply contact a licensed trustee, schedule a time to meet and they will help to review the pros and cons of the available options and help you determine if any of these will be the right fit for you.