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PAYING CREDITORS BEFORE BANKRUPTCY? ONTARIO COURT'S $400,000 DECISION CHANGES EVERYTHING
Ira Smith Trustee & Receiver Inc.
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Discover the landmark Court of Appeal for Ontario decision that's changing the bankruptcy landscape in Canada, with a staggering $400,000 case that's redefining preferential payments.
As a Licensed Insolvency Trustee, I'll break down the implications of this ruling on pre-bankruptcy payments and creditor relationships. Key takeaways include:
Understanding the intent behind payments to creditors
Maintaining regular payment patterns and avoiding large one-time payments
Keeping detailed records of financial transactions
To navigate these complex waters, consider consulting a Licensed Insolvency Trustee. Like this video and subscribe to our channel for more insights on bankruptcy and debt management in Canada. Visit our website at eyera smith ink dot com or call us at 905.738.4167 for a free, confidential consultation.
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