July 18th, 2011 by A Licensed Insolvency Trustee
On July 14, 2011 the Supreme Court of Canada released its decision in the case of Schreyer v. Schreyer. Why are we discussing a Supreme Court of Canada decision in a blog about bankruptcy in Canada? Because this case confirms a long held principle of bankruptcy law, but it also forces us to consider whether […]
April 4th, 2011 by A Licensed Insolvency Trustee
Gift cards are a nice, convenient gift, but what happens if the store declares bankruptcy in Canada? The answer: you’ve got a problem. Last week Global TV News ran a story about the bankruptcy of Tabi, a large women’s clothing retailer with 78 stores across Canada. All stores are being liquidated, and the liquidator is […]
March 28th, 2011 by A Licensed Insolvency Trustee
The bankruptcy rate in Canada dropped in 2010, according to statistics recently released by the Office of the Superintendent of Bankruptcy. That’s good news, right? Yes and no. First, let’s review the numbers. In 2010 a total of 135,008 Canadians filed a consumer proposal or personal bankruptcy. That’s an 11% drop from the 151,712 who […]
February 28th, 2011 by A Licensed Insolvency Trustee
Look in the mirror. It’s likely that you have more in common with the average person who files bankruptcy in Canada than you may think. I’m a licensed bankruptcy trustee in Ontario, and today we released a comprehensive new research study profiling the average person who files a consumer proposal or bankruptcy in Ontario. We […]
February 7th, 2011 by A Licensed Insolvency Trustee
In addition to our articles bankruptcy in Canada, we occasionally review books that may be of interest to our readers. You can see all book reviews in our book review section. Today we review Power Spending: Getting More For Less by Carolyn Johnston, Eric Poulin and Robin Poulin. I was consulted for the section of […]
November 29th, 2010 by A Licensed Insolvency Trustee
Earlier this month we broke the story about Draft Statements of Claim – Collection Agency Dirty Trick Number One. Then, last week, we followed up with Draft Statements of Claim – More on This Questionable Collection Agency Tactic. In both articles we referred to the work of Mark Silverthorn, a former collection agency lawyer who […]
November 22nd, 2010 by A Licensed Insolvency Trustee
Earlier this month we published an article titled Draft Statements of Claim are a Common Collection Agency Trick, where he discussed the collection agency practice of sending a “Draft” Statement of Claim to debtors. A draft statement of claim looks like an authentic court document commencing a lawsuit against a consumer. Many Canadians who receive […]
November 15th, 2010 by A Licensed Insolvency Trustee
Why do Canadians have problems with money? Why do we have too much debt, and no savings? Obviously the prolonged recession has not helped, but I believe one of the reasons we get into financial trouble is that we simply don’t fully understand money, credit and debt. In Canada, financial education is not a priority […]
November 1st, 2010 by A Licensed Insolvency Trustee
You may be considering filing bankruptcy in Canada because you are getting telephone calls from collection agencies. Back in 2008 the Ontario Registrar of Collection Agencies wrote a letter of direction to all collection agencies operating in Ontario warning them against two specific collection practices when hiring lawyers to send out collection letters. In this […]