Honda Alliston Introduction At Ira Smith Trustee & Receiver Inc., we understand that the health of Ontario’s manufacturing sector isn’t just about numbers on a balance sheet; it’s about the livelihoods of thousands of families across the Greater Toronto Area and beyond. If your business is feeling the weight of recent industry shifts, please know […]
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Undeniably, large tariffs don’t just cut into your profit margins—it wipes them out overnight. However, panic is an inadequate response when your auto parts manufacturing business in Vaughan, Ontario, faces an immediate cash flow crisis. Consequently, this guide delivers actionable strategies to leverage corporate debt restructuring and protect your company from impending U.S. trade tensions. […]
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 […]
Bankruptcy of the Company: Introduction Imagine being at the helm of a thriving business, only to watch the bankruptcy of the company. As an insolvency professional, a Canadian licensed insolvency trustee (formerly called a trustee in bankruptcy), I have witnessed the rollercoaster of emotions that come with financial failure, often paired with the entrepreneur’s sense […]
bankruptcy and business Bankruptcy and Business: Introduction As a licensed insolvency trustee, (previously referred to as a trustee in bankruptcy), my role involves assisting individuals and businesses in managing the complexities associated with entrepreneurship. The conclusion of a business often occurs without fanfare; it is not typically marked by formal announcements or celebratory farewells but […]