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Alger Bankruptcy Services


Same team, new name

Alger & Associates personal bankruptcy services are
now provided by
Grant Thornton Alger Inc.

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Edmonton, Calgary bankruptcy Q&A forum

Author:

 

Question:

 

If I am running a business that is failing can I claim bankruptcy on that business only or do I have to declare a personal bankruptcy also?



From:

 

Grant Thornton Alger Inc.

Date:

 

Oct 16, 2013

Answer:

 

If your business is incorporated then your corporation can file for bankruptcy. Generally a corporate bankruptcy is only undertaken if there are assets available to be liquidated for the benefit of the company's creditors.If you have personally guaranteed the debts of the corporation, then those creditors holding personal guarantees can pursue you. As a Director of a corporation you are personally liable for unremitted source deductions, GST arrears and employee wages outstanding. If you operate a sole proprietorship you are personally liable for the debts of your business and a personal bankruptcy or other option may be the way to go. Call me and we can discuss your particular circumstances. If you are

Marie Kozlowski
T 403-296-3082
Marie.Kozlowski@ca.gt.com

 

For Alberta Bankruptcy help, call TOLL FREE from anywhere in Alberta: 310-8888
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