Is Canada in recession? Statistics Canada recently released data showing that inflation rose to 7.7% year-on-year in May, up from 6.8% in April. This was the highest reading since January 1983 and well above the 7.3% expected by economists. The inflation index rose 1.4% from the previous month, with gasoline prices, hotel prices and car […]
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Is online sports betting legal in Ontario? Private gaming websites that have gone through the province of Ontario licensing process are allowed to start taking wagers as of April 4, 2022. This new online platform marketplace is being run by iGaming Ontario, a subsidiary of the Alcohol and Gaming Commission of Ontario. Right now, online […]
The Canada Emergency Response Benefit (CERB Canada) has been closed but is not over The government is ramping up its efforts to verify CERB Canada eligibility for payments made under the Canada pandemic support program. Many Canadians have been told to return some or all of the funds received in the past. The Canada Revenue […]
What is defamation to character? In Canada, defamation is any intentional or negligent false communication, whether written or spoken, that harms a person’s reputation or exposes them to ridicule, belittling, or contempt. The concept of defamation can have two possible parts; libel and slander. There is a distinction between libel and slander. Libel is defamation […]
Bankruptcy services and FAQ information Bankruptcy is a last resort for Canadian individuals, entrepreneurs and companies looking for a debt solution. However, bankruptcy services are just one of the available options we canvass with you to provide the opportunity to rebuild your financial affairs and your life. I help people and senior company management understand […]
Legal proceeding: What are some things I can do if someone owes me money and refuses to pay? In Canada, there are several options in what you can do when someone owes you money and you do not hold any security against any of their property. First, a person or company should obviously make one […]
Declaring bankruptcy: Business insolvency When the corporate finances are such that the business has an insufficient cash flow to cover its operating expenses and pay its debts when they come due, these financial difficulties create the financial condition of insolvency for the business. Another indicator of insolvency often exists at the same time: if you […]
Consumer proposal Toronto: What is a consumer proposal in Ontario? If you’re drowning in debt and find you are falling further behind every month, there may be options available to help you regain total control over all aspects of your life and eliminate your stress. If you’re struggling with debt, a consumer proposal may […]
Laurentian University Sudbury: About Laurentian University I have been following the attempt by Laurentian University Sudbury to restructure under the Companies’ Creditors Arrangement Act (CCAA). As notable events occur, I write a blog about this Northern Ontario institution and try to relate the restructuring issues in a way that every entrepreneur can relate to and […]
Inheritance during bankruptcy: Family situations Your assets are considered yours in Canada. In other words, if during your bankruptcy you inherit money from a family member, the property belongs to the bankruptcy estate. Your property, including cash, will be distributed by your licensed insolvency trustee (“Trustee”) to your unsecured creditors. Whenever an insolvent person comes […]