FILL OUT THE FORM BELOW AND RECEIVE A NO-OBLIGATION CONSULTATION

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If you have unsecured debt of under $10,000 and live in the Province of Ontario filing bankruptcy may not be the best option for you. We suggest you contact the Office of the Superintendent of Bankruptcy at 416-973-6441 to discuss your options, or you can visit their website here.

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Director of Corporation

Me and my Common-Law are Directors of a Corporation. The Corporation owns a Franchise. My question is – If I claim Personal Bankruptcy does this effect the Corporation in anyway other than any income coming my way from the Corporation?

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One Response to “Director of Corporation”

A licensed trustee said...

If you file bankruptcy you may no longer serve as a Director of the corporation. In addition, if you are a shareholder and you file, all of your shares “vest” in your trustee which may complicate things for the franchise. I suggest you contact a trustee to discuss this in greater detail before you commit to anything.