“Ah, yes, divorce . . . from the Latin word meaning to rip out a man’s genitals through his wallet”. Robin Williams Does bankruptcy and divorce together work? The movies “War of the Roses” and “First Wives Club” were great comedies, but they were also sad commentaries on how down and dirty some divorces can […]
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Are you experiencing tax problems with the CRA? If you are burdened with serious debt and tax problems, the CRA may be only one of several creditors that you have to deal with. Although you may be bombarded with advertisements from tax lawyers trying to scare you into believing that you need a prominent tax […]
If you’re experiencing serious debt problems you are no doubt going through a very stressful time in your life and you may not know where to turn. Ira Smith Trustee & Receiver Inc. is here to tell you that there is help available and there are solutions to your debt problems. The best thing that […]
You may have noticed that every time you turn on the radio or television there is another advertisement for a debt settlement company making outlandish claims about how they can solve your debt problems with a quick fix for pennies on the dollar. There is a very good reason that Canadians are now being inundated […]
ex parte motion When a company faces financial distress, the path forward often depends on more than just the numbers on a balance sheet. The recent Canadoil Forge Ltd. case from Quebec’s Superior Court demonstrates how procedural fairness and judicial scrutiny can dramatically impact the outcome of receivership applications – even when the underlying financial […]
Running small and medium enterprises (SMEs) in the Greater Toronto Area has never been easy. However, many business owners are currently facing some of the toughest challenges in decades. Rising costs, changing customer habits, troubling macroeconomic variables and supply chain problems are putting serious pressure on companies across the GTA. If you’re a business owner […]
Cash Flow Introduction Are you an Ontario business owner staying up at night because your cash flow isn’t covering your bills? You have money coming in, but it’s not arriving when you need it most, such as when payroll is due or suppliers are demanding payment. If you’re nodding along, you’re experiencing what thousands of […]
When Related Party Business Loans Go Wrong: The $2 Million Mistake A recent Nova Scotia court decision shows how a related party loan when a business is insolvent has tricky rules that can leave the lender in a difficult situation when the borrower company goes bankrupt. The Atlantic Sea Cucumber Ltd. court decision shows how […]
Company Insolvency Introduction On a chilly night in early 2020, I remember getting a frantic email from a fellow entrepreneur—her café had just closed its doors indefinitely. The uncertainty in her voice mirrored what every small business owner across Canada felt: a silent panic about their limited company insolvency and that maybe, just maybe, their […]
This is our last blog post for 2024. We will be back with more in January. Happy Holidays and a Happy and Healthy New Year to all of our readers. Insolvency Advisory Services: Introduction Insolvency is a complex financial situation with significant legal and practical implications. This Brandon’s Blog post explores the key aspects of […]