Search site             Home line  About us line  Contact us line  Ask an expert   line  Forms line  Corporate recovery      

bankruptcy trustee


Same team, new name

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

Receive a callback from one of our bankruptcy and debt help experts

 

Bankruptcy Calgary Edmonton Q&A Forum

Question:

 

hello my business partner and I started a company in 2010 as the years went by more debt to the cra is incurred now I have stared a new company doing the same thing but the right way. as well as my partner but he put the company under his spouses name what can we do to close the existing company ? can we go bankrupt and what does bankruptcy take care of (ie creditors , CRA...


From:

 

Grant Thornton Limited

Date:

 

Dec 07, 2015

Answer:

 

David, A company cannot be dissolved if there are outstanding debts. A corporate bankruptcy will include all liabilities of the company. However, if you are a director, you are still exposed to personal guarantees and director liabilities such as GST and source deductions. A corporate bankruptcy may not be necessary if there are no assets of the company. I would suggest that you contact our office to discuss the current status of the company and its options.

Susan Methuen
T 403-310-8888
susan.methuen@ca.gt.com

 

For debt help and bankruptcy in Calgary, Edmonton, and throughout Alberta, call TOLL FREE from anywhere in Alberta: 310-8888
We're here until 9 PM weekdays and 9 AM to 4 PM on Saturday to take your call

 

 

All locations
310-8888

© 2011 Grant Thornton Limited • All rights reserved


back to Bankruptcy Alberta home

Confidential callback from a bankruptcy professional

Please call me

As soon as possible
Today at
Next business day at

My Phone # 

Extension  

Ask for  

×

×