In certain circumstances a potential restructuring for a debtor company is not the best course of action and a decision will be made to assign a company into bankruptcy. While this option should be a last resort, this proceeding halts further losses to creditors and shareholders.
In the event a company refuse to voluntarily assign itself into bankruptcy, a creditor may make an application to the Court of Queen’s Bench of Alberta to force a company to make an assignment into bankruptcy.
Our team of professionals are available to administer this process according to the provisions of the Bankruptcy and Insolvency Act while also assisting all stakeholders involved to understand the result of such a filing and the impact it will have on their financial circumstances.
Thank you all for making a not so happy time a positive learning experience.Kelvin & Deb J.