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can bankruptcy be annulled for a consumer proposal?

Can a bankruptcy be annulled and a consumer proposal submitted in place of bankruptcy in Ontario?

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One Response to “can bankruptcy be annulled for a consumer proposal?”

Jillian Taylor-Mancusi, Trustee | B.A. | C.I.R.P said...

A consumer debtor can, by definition, include a bankrupt. As such a consumer proposal can be filed by a consumer debtor. Section 66.4(2)(d) of the Bankruptcy and Insolvency Act states “The approval or deemed approval by the court of the consumer proposal operates to annul the bankruptcy…”