Business Reorganization and Viability Reports
Proposals under the Bankruptcy and Insolvency Act
Bankruptcy
Hayes Mc Neil & Partners Ltd.
3290 3rd Ave
Port Alberni , BC V9Y 4E1
Website:http://www.hmpltd.com/index.html
Customer Service Phone: | 250-723-0300 |
Customer Service Fax: | 250-754-1903 |
Contact's Phone: | (250) 754-9551 |
Product Name | Product Description | |
Business Reorganization and Viability Reports | Think of having the proposal. A proposal grants you options for percentage settlement or additional time to pay off your debts. Ownership of assets and management of the business will remain as a responsibility of the debtor. A proposal can be made with the assistance of a Trustee and, if honored by the creditors and the court. It will then become a legally binding agreement between the debtor and creditors. A proposal is a viable alternative to bankruptcy. Creditors realize a greater recovery and the debtor, having met his obligations as defined in the proposal, sees his liabilities extinguished. |
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Proposals under the Bankruptcy and Insolvency Act | Think of having the proposal. A proposal grants you options for percentage settlement or additional time to pay off your debts. Ownership of assets and management of the business will remain as a responsibility of the debtor. A proposal can be made with the assistance of a Trustee and, if honored by the creditors and the court. It will then become a legally binding agreement between the debtor and creditors. A proposal is a viable alternative to bankruptcy. Creditors realize a greater recovery and the debtor, having met his obligations as defined in the proposal, sees his liabilities extinguished. |
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Bankruptcy | There are times when no options or course of action is obtainable and a debtor should then think of bankruptcy may it be personal or corporate. In voluntary assignment or petition for a receiving order, a debtor can create a voluntary assignment or a creditor could petition a reluctant debtor into bankruptcy. Secured creditors may ask for the bankruptcy to secure the value of their security from statutory claims. A petition may also be utilized to oblige a reluctant debtor into bankruptcy to allow the Trustee to look into fraudulent transfers of assets. |