May 2nd, 2012 by Questions

I took my name off an incorporated company in Jan 2012..it was having financial problems , and I had a feeling I was going to have to personally declare bankruptcy due to the fact that I lived off my savings for years, so I didn’t want it to hurt the company….should I get my previous partner of 7 years to make me the sole share holder now so I can take that debt with me and he can then start fresh?
I realize from your responses that the company would have to shut down first prior to me declaring bankruptcy.There are no such assests to speak of at this point…only majot tax and cra deductions due….

Posted from: Nova Scotia


One Response to “Dawn”

, Barton Goth - Goth & Company Inc. -Trustee in Bankruptcy said:


Before you do anything you should consult with a local trustee. Whenever you are trying to transfer shares etc. if you do it the wrong way you can create tremendous difficulties for yourself. So consult with a local trustee and they will help you determine the best way to accomplish what you need with the least likelihood of problems.

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