Personal Insolvency
Our professional team of Montreal bankruptcy trustees
will help you assess your financial situation and find the solution that is best suited for you. We have offices in Montreal, the South Shore and in the West Island.
Commercial Insolvency
As experienced insolvency professionals, our team of Montreal bankruptcy trustees have the expertise to properly assess the financial health of your business and find the best solution to its financial problems.
Services to Businesses
Proposals to Creditors
A proposal under the Bankruptcy and Insolvency Act is often the better option for a corporation facing severe financial problems but who could be profitable if it could reach an agreement with its creditors. More often, a proposal will call for payments in instalments of the corporation’s debts at a percentage of the global amount owed. When a corporation wants to file a proposal to its creditors but needs time to properly assess its financial situation, it may file a “Notice of Intention to File a Proposal” which stays all procedures against the company and allows 30 days - or more with Court approval - to submit a proposal to its creditors. Our expertise in helping corporations draft viable proposals led to the approval and the completion of the vast majority of them and allowed enterprises to gain back profitability, keep contributing to the economy in their community and save jobs which is a great achievement for them and for us.
Corporations indebted for an amount exceeding 5 million dollars may file an arrangement under the Companies’ Creditors Arrangement Act (CCAA). This type of procedure is more flexible than the BIA and a favourite in the reorganization of large corporations with complex issues.
