Corporate bankruptcy

August 7th, 2012 by Questions

As a business owner are my personal assets affected if my company files for bankrupt

Posted from: Alberta


One Response to “Corporate bankruptcy”

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

This really depends on the types of debt you have in the business. As a general rule, if you have any debt to CRA or have any personal guarantees then you are on the hook personally and may not even be wise to file a corporate bankruptcy. But to know for sure you should meet with a trustee and they will help you determine this.

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