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Alberta bankruptcy Q&A forum

Question:

 

hello, i just like to ask what happen when the business was not doing well and incurred a lot of losses, can we declare bankruptcy ? do i need to pay my investors for all the losses?


From:

 

Grant Thornton Limited

Date:

 

Aug 07, 2018

Answer:

 

Hello, A business can be placed into bankruptcy depending on how you would like to shut the company down and what the business owes. Typically, a business will declare bankruptcy if there were assets to be sold but the debts are more than what the assets are worth. Investors normally don't recover the money invested in the company in a bankruptcy situation. Should you have additional questions or concerns with options available for your business please contact 310-8888 to discuss with our Corporate Restructuring group.

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

 

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