Introduction to Business Insolvency Welcome to our Brandon’s Blog where we will explore the intricate world of insolvency and its profound impact on businesses in Canada from my perspective as a professional in the field. In this exploration of business insolvency, we will uncover the implications that insolvency brings for creditors, shareholders, their lawyers and accountants, and employees alike. Understanding the complexities of financial distress is crucial for businesses to navigate through turbulent times successfully. Join me as we discuss effective strategies and best practices to mi ..read more

Bankruptcy or Consumer Proposal:  Introduction When your client has an amount of debt they cannot repay, they often consider measures such as bankruptcy or consumer proposal. To choose the most appropriate option for their unique situation, it’s important to have a good understanding of the details of each option. Let’s compare and contrast these options to help you help your client make the right choice that best fits their situation. Bankruptcy or Consumer Proposal:  Importance of understanding the differences between the two options When faced with financial challenges, understand ..read more

Definition of a Licensed Insolvency Trustee in Canada A Licensed Insolvency Trustee (previously called Trustees in Bankruptcy) in Canada plays a crucial role in helping individuals and businesses with debt problems. Navigating financial difficulties can be overwhelming, but understanding the role of a Licensed Insolvency Trustee can provide clarity and guidance. In this comprehensive guide, we’ll delve into the responsibilities and significance of an LIT, shedding light on how they can assist individuals and businesses facing insolvency. This is the second in a series of Brandon’s Blogs to en ..read more

Insolvency Meaning: Introduction In a vibrant economic environment where change is the only constant, legal and accounting experts have to be fluent in insolvency laws to be able to supply their clients with some basic advice they require to navigate tough financial situations. To use reliable guidance, lawyers and accounting professionals require a basic understanding of the complexities of Canadian bankruptcy regulations. In this first in a series of blog posts, Brandon’s Blog undertakes to encourage legal and accounting professionals not familiar with insolvency techniques to help clients ..read more

Debt Management Program: Introduction Are you drowning in credit card debt, tax debt or any other debt and feeling overwhelmed by mounting interest charges?  Are you behind in some or all of your debt payments? Is there a collection agency hounding you?  It’s a common struggle, especially with the recent increases in interest rates. But fear not, there are debt relief options available to help you regain control of your finances. Two popular choices are a debt management program and bankruptcy, but there are key differences to consider. In this Brandon’s Blog post, we will explore t ..read more

fraud prevention month Fraud Prevention Month:  Introduction March is the month-long campaign known as Fraud Prevention Month.  In this Brandon’s Blog, I provide a comprehensive step-by-step guide to help you protect yourself against fraud. I cover a range of topics including how to identify common scams, secure your personal information, and safeguard your financial accounts. I walk you through practical tips and strategies for fighting fraud to keep your sensitive data safe from cyber threats and fraudulent activities. Whether you’re a business owner or an individual looking to enh ..read more

Overview of the Canada Emergency Response Benefit In the unprecedented times of the pandemic, one of Canada’s COVID-19 Economic Response Plan by PM Justin Trudeau and the Federal Government was the rolling out of the Canada Emergency Response Benefit (CERB) to provide financial aid to those affected by the COVID-19 pandemic. However, the eligibility requirements and repayment process have left many Canadians confused and frustrated. In this Brandon’s Blog, we will dive deep into the intricacies of CERB eligibility and repayment, providing you with a comprehensive guide to navigate through the ..read more

Rudy Giuliani:  Introduction Rudolph Giuliani, formerly revered as a prominent figure in American governance for his commendable response during the September 11th attacks, has encountered a series of legal predicaments in recent times. Notably, his entanglement in the Ukraine scandal on behalf of Donald Trump to discredit Hunter Biden and his father Joe Biden, which led to the first impeachment of President Trump.  From there, Rudy Giuliani, on behalf of Donald Trump, embraced all the conspiracy theories with his active role in disseminating baseless election claims and election-de ..read more

Consumer Debt Proposal: Introduction Welcome to Brandon’s Blog post where we will delve into the intriguing world of the consumer debt proposal and the legal framework surrounding them. Today, we will first look at what a consumer debt proposal is, why it is one of the most popular debt solutions to avoid personal bankruptcy and how to go about making one. Then, we will take a close look at the case of Kamaljit Singh, shedding light on the authority and discretion of the courts when it comes to annulling a completed consumer proposal. Join us as we navigate the complexities of this case and g ..read more

company liquidation Company Liquidation:  Introduction Company liquidation involves navigating a myriad of legal and financial obligations, particularly when a company is deemed insolvent. This process requires a thorough understanding of the duties and responsibilities of company directors, legal obligations in insolvency proceedings, and the roles of licensed insolvency trustees and the Court. Identifying insolvent companies and differentiating between secured and unsecured creditors are also fundamental aspects of the liquidation process. In the fast-paced and competitive world of busi ..read more