Debtor in Possession: How to Save Your Canadian Business from Bankruptcy
Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Is your Canadian business drowning in debt? If you’re facing pressure from the bank, the CRA, or major suppliers, you need to know about the Division I Proposal under the Bankruptcy and Insolvency Act. Many business owners believe that insolvency means the end of their company. In reality, a formal restructuring allows you to remain in possession of your business while you reorganize your finances, silence your creditors, and stabilize your operations. In this video, Ira Smith, a Licensed Insolvency Trustee, explains how a Debtor in Possession strategy works in Canada and how to protect your livelihood using federal insolvency laws. Timestamps: 00:00 Introduction to Debtor-in-Possession (DIP) Restructuring 01:06 What is Debtor-in-Possession (DIP)? 01:29 Is Your Business Actually Viable? 02:00 Route 1: The Division 1 Proposal 02:31 Fast Facts on Division 1 Proposals 03:15 The CCAA Heavyweight Option ($5M Threshold) 04:12 DIP Financing: The Ultimate Lifeline 04:42 The First 30 Days: Actionable Checkpoints 05:15 Choosing the Right Tool for Your Business Need help? 📞 Call us: (647) 799-3312 🌐 Visit:https://ift.tt/Fing1ZW 📍 Location: 167 Applewood Crescent, Unit 6, Vaughan, ON Disclaimer: This video is for educational purposes only and does not constitute legal or financial advice. Insolvency laws are complex. Please contact a Licensed Insolvency Trustee to discuss your specific situation. #LicensedInsolvencyTrustee #BusinessDebt #RestructuringCanada #IraSmith #DivisionIProposal TAGS: Debtor in possession Canada, Division I Proposal, Licensed Insolvency Trustee, Ira Smith, business bankruptcy Canada, CRA debt relief, corporate restructuring Canada, Bankruptcy and Insolvency Act, BIA proposal, business debt help, financial turnaround Canada
via YouTube https://www.youtube.com/watch?v=Zh3xI-jLirA
Debtor in Possession: How to Save Your Canadian Business from Bankruptcy Is your Canadian business drowning in debt? If you’re facing pressure from the bank, the CRA, or major suppliers, you need to know about the Division I Proposal under the Bankruptcy and Insolvency Act. Many business owners believe that insolvency means the end of their company. In reality, a formal restructuring allows you to remain in possession of your business while you reorganize your finances, silence your creditors, and stabilize your operations. In this video, Ira Smith, a Licensed Insolvency Trustee, explains how a Debtor in Possession strategy works in Canada and how to protect your livelihood using federal insolvency laws. Timestamps: 00:00 Introduction to Debtor-in-Possession (DIP) Restructuring 01:06 What is Debtor-in-Possession (DIP)? 01:29 Is Your Business Actually Viable? 02:00 Route 1: The Division 1 Proposal 02:31 Fast Facts on Division 1 Proposals 03:15 The CCAA Heavyweight Option ($5M Threshold) 04:12 DIP Financing: The Ultimate Lifeline 04:42 The First 30 Days: Actionable Checkpoints 05:15 Choosing the Right Tool for Your Business Need help? 📞 Call us: (647) 799-3312 🌐 Visit:https://ift.tt/Fing1ZW 📍 Location: 167 Applewood Crescent, Unit 6, Vaughan, ON Disclaimer: This video is for educational purposes only and does not constitute legal or financial advice. Insolvency laws are complex. Please contact a Licensed Insolvency Trustee to discuss your specific situation. #LicensedInsolvencyTrustee #BusinessDebt #RestructuringCanada #IraSmith #DivisionIProposal TAGS: Debtor in possession Canada, Division I Proposal, Licensed Insolvency Trustee, Ira Smith, business bankruptcy Canada, CRA debt relief, corporate restructuring Canada, Bankruptcy and Insolvency Act, BIA proposal, business debt help, financial turnaround Canada
via YouTube https://www.youtube.com/watch?v=Zh3xI-jLirA