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Personal Bankruptcy with a business

If you file personal bankruptcy but are the president of a company can you resign as president and appoint a new director to keep business going? Can the new director be a minor (17)?

Posted from: Alberta

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One Response to “Personal Bankruptcy with a business”

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

There is no problem with you stepping down and no longer being a director / officer of the company as long as this is done prior to you filing for bankruptcy. As for whether a minor is eligible, this I am not sure about.