1. 
Bankruptcy in Ottawa
Presented by Surgeson Carson Associates

2. Finding a Solution
 There are a variety of options that may be available to
you including:
 Negotiating with a creditor;
 Debt / Credit counselling;
 Money Management;
 Informal arrangements with creditors;
 Consumer Proposal; or,
 Bankruptcy

3. Business Solutions
 Corporate Proposal / Reorganization;
 Voluntary wind-up or Liquidation;
 Negotiations with creditors, banks or Revenue
Canada; or
 Bankruptcy

4. Bankruptcy
 Bankruptcy in Canada is set out by federal law, in
the Bankruptcy and Insolvency Act and is applicable
to businesses and individuals. The Office of the
Superintendent of Bankruptcy, a federal agency, is
responsible for ensuring that bankruptcies are
administered in a fair and orderly manner. Trustees
in bankruptcy administer bankruptcy estates.

5. What are the duties of a trustee?
 Review the file for any fraudulent preferences or
reviewable transactions
 Chair meetings of creditors
 Sell any non-exempt assets
 Object to the bankrupt’s discharge
 Distribute funds to creditors

6. Keeping assets during a bankruptcy
 Property held in trust for any other person.
 Any property that is exempt by the laws of the province
in which the bankrupt resides.
 Goods and services tax credit payments and prescribed
payments relating to the essential needs of an individual
as are made in prescribed circumstances.
 As of July 2008, RRSP contributions made more than a
year prior to bankruptcy being filed are exempt from
seizure.

7. Call Us Today
 Call us at (613) 567-6434 today for your own
personalized solution to resolve financial difficulty.
 You can also visit our website to learn more about
bankruptcy resolution.
 surgesoncarson.com