Skip to main content

Posts

Showing posts from February, 2022

How to Overcome Financial Stress

via IFTTT
Read more

BUSINESS BANKRUPTCY: SHOULD CANADA ADOPT A SATISFYING COMPLETE USA-STYLE PROCESS FOR SMALL BIZ RESTRUCTURING?

  As the COVID-19 pandemic continues, we hope that you, your family, and your friends are safe, healthy, and secure. Ira Smith Trustee & Receiver Inc. is fully operational, and both Ira and Brandon Smith are readily available for phone or video consultations. Business bankruptcy :   Insolvency for business Hundreds of thousands of small businesses around the world have been affected by the lockdowns caused by the Coronavirus pandemic. There have been many company closures, and others have been forced to restructure. Although restructuring may be painful, it is necessary if you want to come out from under crippling debt and grow your business. Many businesses experiencing financial difficulties simply shut their doors rather than restructure.  Most small businesses cannot reorganize their company debts under the Bankruptcy and Insolvency Act   (Canada) (BIA) due to the high costs of administration.  A small business owner does not benefit from spend...
Read more

Business Bankruptcy

via IFTTT
Read more

CANADIAN DEBTORS ASSOCIATION URGES ESSENTIAL CHANGES TO BANKRUPTCY AND INSOLVENCY ACT

As the COVID-19 pandemic continues,ce hope that you, your family, and your friends are safe, healthy, and secure. Ira Smith Trustee & Receiver Inc. is fully operational, and both Ira and Brandon Smith are readily available for phone or video consultations. The Canadian Debtors Association was formed to fix this problem Many people have faced a difficult time in their life and experienced many problems as a result. We all know that the human spirit can be tested, and it can be tested hard, whether they have lost their jobs, suffered serious injuries, or just needed to trim their spending. Financial hardships can lead to feelings of hopelessness, depression, and anxiety. A national non-profit organization serving Canadians with debt problems is the Canadian Debtors Association . It was established a few years ago.  They advocate exclusively on behalf of debtors who face economic hardship and insurmountable debt. Their belief is that debtors need someone they can call th...
Read more

Canadian Debtors Association Urges Essential Changes To Bankruptcy And Insolvency Act

via IFTTT
Read more

RECEIVER APPOINTED BY COURT: 16 KEY INGREDIENTS TO ENSURE COURT APPROVAL OF A RECEIVER

As the COVID-19 pandemic continues, we hope that you, your family, and your friends are safe, healthy, and secure. Ira Smith Trustee & Receiver Inc. is fully operational, and both Ira and Brandon Smith are readily available for phone or video consultations. A receiver appointed by court :  What is a receiver in Canada? In the event that a company has financial difficulties, a Receiver may be appointed to take over its assets and manage them until its assets can be sold.  The receivers are third parties appointed to supervise the liquidation process and remit the proceeds in accordance with legal priorities. A judge appoints a court-appointed receiver, and a secured creditor appoints a privately appointed receiver under a simple appointment letter.  In Canada, for a court-appointed receivership, a receiver appointed by court must be a licensed insolvency trustee (formerly known as a bankruptcy trustee). In this Brandon Blog, I focus on the factors to be considered...
Read more

Receiver Appointed By Court: 16 Key Ingredients For Court Approval

via IFTTT
Read more