Over the last several months many of us have received government aid, whether directly through CERB payments, forgivable loans, wage subsidies, rent subsidies and other payments. Are these payments taxable,…
The COVID-19 pandemic has resulted in several large retail operations seeking insolvency protection both under the Companies Creditors Arrangement Act (CCAA) in Canada and under its US equivalent, Chapter 11.…
Canadian companies have not made much use of the Bankruptcy and Insolvency Act over the past 10 years1 likely due to years of growth spurred by abundant capital and easy…
Asset-based Lending, a type of loan based on the value of the assets offered as collateral. An interesting tool for growing companies and those undergoing restructuring.
The Directors of a corporation may be held personally liable of certain debts of the corporation. Upon the foreclosure of a corporation pursuant to a bankruptcy or receivership, should these…
Is it possible for a profitable, growing business to experience financial difficulties? Absolutely. Let’s take a look at this fictional company: it has seen its revenues grow at a rate…
As previously mentioned, insolvency and/or financial difficulties rarely happen unexpectedly. Several signs warn business leaders that such a situation is on its way. Unfortunately, these signs are frequently ignored. Often,…
Leaders often refuse to face the fact: their business is on the brink of a financial abyss. This situation materializes over time and rarely unexpectedly; it is often the result…