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Alger Bankruptcy Services

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I own a house in The Netherlands. For a number of years it has been impossible to maintain and with the drop in the housing market, it will be sold by the bank and will most likely realise a net loss of approximately $500,000. I've used all my available capital and have nothing more to give to this. Can the Dutch bank pursue me in Canada for this debt? Can I declare bankruptcy to avoid this? I have debts here in Alberta but at current repayments I will be clear of these in 2 years. Thanks for your help.



Alger & Associates Inc.



Feb 18, 2013



Yes, the bank can pursue you however they would have to retain counsel in Canada and have the Dutch judgement recognised in the Canadian Courts. A bankruptcy filing in Canada will stay any action the Dutch bank can take in Canada and upon completion of the bankruptcy the Judgement will not be enforceable in Canada. If you file for bankruptcy in Canada all of your debts must be included. Thanks for the question.

Marie Kozlowski
T 403-296-3082


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