Bankruptcy Options For Corporations

Is Your Business a Fit?

Your Business

Your business is no longer operating. There are insufficient funds and assets to pay the creditors is full. Your creditors are pressuring you to make payments or threatening legal action.

Our Business

We are Licensed Insolvency Trustees. We have the legal authority to help businesses file bankruptcy. We can meet by video, which allows us to meet with business owners all across Ontario.

Corporate Bankruptcies

For a fee, we can bankrupt your corporation, which will stop legal action and collection calls; ensure that unpaid employees can get some, if not all, their unpaid wages paid; wind up tax filing requirements.

Common Debts

• CEBA Loans
• Bank Loans and Credit Card Debts
• CRA Tax Debts
• Employee Wages
• Landlord Debt

Debt Awarness

There are debts that enjoy additional protection from a corporate bankruptcy filing. These debts include director liabilities (director of the corporation is personally liable for HST and payroll deductions) and debts that have been personally guaranteed.

What You Pay For

There are disbursements that we need to pay. These include government filing fees, software licensing/usage fees, delivery of notices and notice in the newspaper cost.

In addition, to the above disbursements, we charge:

• professional time to meet with you and sign bankruptcy documents and provide for consultations.
• handle claims and questions from creditors
• chairing a first meeting of creditors
• Applying for wages to be paid through the Wage Earner Protection Program. This is a government program that will pay the wages to your employes, if they did not receive their wages and or termination pay
• Filing obligatory tax returns and HST returns

Minimum Cost

For files with no assets, no employees, and all tax filings up to date, our fee is $5,300. This includes disbursements and applicable taxes. We can offer payment plans.