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.
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?”