Sentences with phrase «creditors under the bankruptcy»

The legal process where an individual or business resident in Canada files for protection from their creditors under the Bankruptcy and Insolvency Act.

Inherited IRAs are not protected from creditors under the bankruptcy code.

An organization that is insolvent or files for bankruptcy (whether for protection from creditors under the Bankruptcy and Insolvency Act or to restructure or reorganize) damages their credibility.

If the company is not bankrupt, but closed its doors because it is insolvent and has not yet asked for protection from creditors under the Bankruptcy and Insolvency Act, the employee must recover unpaid wages via the Employment Standards Branch of their jurisdiction by filing a complaint.

Not exact matches

After the Mt. Gox bankruptcy trustee announced that under Japan's bankruptcy code, creditors were not entitled to Bitcoin's massive price appreciation in their claims, Richard Folsom took it upon himself to change that.

Then last September, Mt. Gox trustee Nobuaki Kobayashi, a top restructuring lawyer also representing Takata in the airbag - maker's bankruptcy, broke the news: Under Japanese bankruptcy law, the value of creditors» claims were capped at what they were worth back in 2014: $ 483 per Bitcoin.

Buckling under a monstrous $ 44 billion debt load dating back to the LBO, the company is negotiating with creditors in an effort to fend off bankruptcy.

Under federal law, you have the right to declare bankruptcy relief from your creditors.

In December, 2014, a subsidiary of the Onni Group acquired the former Capital City Centre development located in Colwood, B.C. from the League Group through a court - approved Restructuring Agreement under that Companies» Creditors Arrangement Act and Bankruptcy and Insolvency Act...

Chapter 9 protects financially distressed municipalities from creditors while their debts are resolved under the direction of a bankruptcy judge.

Under bankruptcy law, creditors can look into possible litigation that may gain more money for creditors.

You will want to discuss all of your options with your attorney or tax advisor before taking action, especially if creditor protection is a concern for you, as the Supreme Court has ruled that Inherited IRAs are not protected under federal bankruptcy laws (although state law creditor protection of inherited IRAs still varies).

Under the federal bankruptcy agreement, Suffolk is guaranteed $ 5 million over the first two years and then $ 1 million from the third through 10th year, until creditors are paid off.

4) Borders files for protection from creditors under Chapter 11 of the federal Bankruptcy Code 5) The final chapter of Stephen Baker's Final Jeopardy! finally arrives on my Kindle, late in the day on the day after IBM's Watson gave a digital thumpin'to the best human Jeopardy players on the planet.

I have not checked to see if Vantage or their sister companies have filed (they would presumably file in a federal district for their area in Great Barrington, Mass.) A bankruptcy attorney in that area could better answer your question about those publishing contracts as bankruptcy estate assets that a Trustee would «recall» (or «garner for the bankruptcy estate) under a preference rule and make a part of Vantage's «bankruptcy estate» for the benefit of creditors.

A consumer proposal is a legal proceeding under the Bankruptcy and Insolvency Act that provides a stay of proceedings that immediately stops all creditor actions including most wage garnishments and calls from creditors and collection agencies.

You may not file under any chapter if within the preceding 180 days you had a prior bankruptcy petition dismissed due to your willful failure to appear before the court or comply with court orders, or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property on which they hold liens.

If, under the standards in the law, the consumer is found to have a certain amount left over that could be paid to unsecured creditors, the bankruptcy court may decide that the consumer can not file a chapter 7 case, unless there are special extenuating circumstances.

And, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

The reason is simple, if the alternative to a Consumer Proposal is Bankruptcy, the creditors will choose to compromise, as they would end up receiving less under a bBankruptcy, the creditors will choose to compromise, as they would end up receiving less under a bankruptcybankruptcy.

A consumer proposal is a legal consumer credit proposal filed under the Bankruptcy & Insolvency Act where you make an offer to your creditors to settle your debts for less than you owe.

Under the Chapter 7, the bankruptcy court orders an appointed case trustee to sell your properties and distribute the proceeds to your creditors based on the priorities established in the Code.

A consumer proposal is an option under the Bankruptcy and Insolvency Act to settle your debts for less than you owe and still receive the creditor protection only available through a Licensed Insolvency Trustee.

Also you know that unless you have a plan that is approved to catch up on your debt under a Chapter Thirteen, then the bankruptcy will not usually allow you to keep property when your creditor has an unpaid security lien or mortgage on it.

In the context of proposals or bankruptcy, a creditor is a person having a claim provable under the Act.

These 3 separate and individual notices sent to all the credit bureaus trigger the laws under the Fair Credit Report Act (FCRA) which then require communications to take place between the credit bureaus and your creditors to make sure all accounts are reporting a $ 0.00 balance and «included in bankruptcy.»

First, paying off some creditors (but not others) is not allowed under the bankruptcy code because you are favoring one creditor over another.

A: When you file for bankruptcy under either Chapter 7 or Chapter 13, an agreement is reached between you and your creditors.

In this type of bankruptcy the court will appoint a trustee whose job it is to liquidate all property that is not exempt (or is in excess of what he or she may keep under law), and use the money raised to pay creditors.

The Official Receiver, among other things, accepts the documents that are filed in proposals to creditors and personal bankruptcy processes, examines bankrupts under oath and chairs meetings of creditors.

A legal agreement between a debtor and creditors to settle debts for less than the full amount owing filed under the Bankruptcy and Insolvency Act.

A debtor can not file under chapter 12 (or any other chapter) if during the preceding 180 days a prior bankruptcy petition was dismissed due to the debtor's willful failure to appear before the court or comply with orders of the court or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.

Under Chapter 13 Bankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incomBankruptcy the debtor creates a 3 to 5 year debt bankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - incombankruptcy repayment plan to repay creditors; payment amounts are based on a strict expense - to - income formula.

The Means Test was designed to determine whether or not you qualify to file a case under chapter 7 of the Bankruptcy Code, and if not, how much you need to pay your unsecured creditors in a chapter 13 case.

Filing Chapter 7 or Chapter 13 Bankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousaBankruptcy does not discharge all debts including student loans, current tax obligations, debts from willful and malicious injuries to persons or property, debts for personal injuries caused from the debtor's operation of a motor vehicle while under the influence of alcohol or drugs, debts from fraudulent actions, Debts that were not included in the bankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousabankruptcy schedules in time to allow creditors to file proofs of claim (unscheduled debts), and child support or spousal support.

In the meeting, you will have to answer inquiries about your finances and fill out bankruptcy forms from a trustee and some creditors, under oath.

A proposal, under the Bankruptcy and Insolvency Act (BIA), is a formal offer from you to your creditor.

If a policy of insurance has been or shall be effected by any person on his own life or upon the life of another person, the policyowner shall be entitled to any accelerated payments of the death benefit or accelerated payment of a special surrender value permitted under such policy as against the creditors, personal representatives, trustees in bankruptcy and receivers in state and federal courts of the policyowner.

At the First Meeting of Creditors the trustee will ask you questions under oath regarding the content of your bankruptcy papers, your assets, debts and other aspects of your financial situation.

A consumer proposal is an option under the Bankruptcy and Insolvency Act to make a deal with your creditors to settle your debts for less than you owe.

However, under normal circumstances, unless your employer or landlord is a creditor, it will not know you filed a bankruptcy petition.

The creditor then either picks $ 0.00 under Bankruptcy or the settlement proposal under Debt Settlement.

Bankruptcy courts take very serious their obligation under bankruptcy laws to provide a certain level of protection to both creditor and debtor while allowing the honest person to work their way out of a bad financial situation, or in some cases, to completely stBankruptcy courts take very serious their obligation under bankruptcy laws to provide a certain level of protection to both creditor and debtor while allowing the honest person to work their way out of a bad financial situation, or in some cases, to completely stbankruptcy laws to provide a certain level of protection to both creditor and debtor while allowing the honest person to work their way out of a bad financial situation, or in some cases, to completely start fresh.

The second solution, and the only one that gives power to the consumer and forces a creditor to accept the repayment plan or wipe away the debt entirely, under law, is bankruptcy.

A debt agreement is a binding agreement between you and your creditors and falls under Part IX of the Bankruptcy Act 1966.

Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it.

Because it is filed under the Bankruptcy and Insolvency Act, a consumer proposal still stops collection calls and all legal actions by your creditors.

As a legal option under the Bankruptcy & Insolvency Act you get protection from creditor actions during the proposal process.

You no longer need to make payments to your creditors (though you will have to make payments to the bankruptcy trustee under a Chapter 13 bankruptcy) and your creditors will no longer be permitted to contact you.

In addition, failure to list a creditor may (under some circumstances) lead to that debt surviving bankruptcy.