Tag Archives: bankruptcy

A Licensed Insolvency Trustee’s obligation to examine a proof of claim and using the civil standard of proof and the creditor’s onus of proof to value unliquidated claims

The decision in Sellathamby (Re), the trustee’s obligation to examine a proof of claim under section 135(1) of the BIA, and the nature of an appeal from a trustee’s disallowance make it clear that a trustee cannot merely disallow a claim because arriving at a decision is difficult or because it is the trustee’s “practice”. The trustee has to properly consider the evidence and prepare a reasoned decision in order for the claims process, including appeals, to function properly.

Does your corporation’s bankruptcy affect your personal credit?

The short answer is no; your corporation’s bankruptcy does not affect your personal credit.  Your corporation is a separate legal entity.  It has its own debts, its own contracts, and its own credit.  Your corporation’s bankruptcy does not affect your personal credit and the fact that a corporation that you were a shareholder, director, orContinue reading “Does your corporation’s bankruptcy affect your personal credit?”