Bankruptcy

Managing day to day finances properly takes time, thought, and planning. Many Canadians carry a certain amount of debt as part of their overall financial picture. However, at times, those debts can begin to feel overwhelming. Whether your financial situation is personal, or business-related, bankruptcy offers some relief if you find yourself in a situation where you are unable to repay your debts. Making the decision to file for bankruptcy can be confusing, difficult, and embarrassing. Are you unsure of your current financial situation and debt-load? Do you have questions or concerns about what you get to keep, or what you may have to give up if you declare bankruptcy? Are you divorced, and your ex-spouse is declaring bankruptcy - do you need to know what effect this will have on child and spousal support? A Licensed Insolvency Trustee will be able to explain the process and implications of filing for bankruptcy, as well as alternatives to bankruptcy - options are available.

You are not alone. Connect with others who may be going through the same thing, find professional help and resources near you. The Kinjunxion community is here to help.

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Bankruptcy

A Feast for Lawyers

Described by the Chicago Tribune as a "latter-day version of Dickens' Bleak House," Bankruptcy: A Feast for Lawyers is a shattering indictment of bankruptcy law by a CEO who lived through the experience of Chapter 11. Author Sol Stein exposes a system that is supposed to provide an opportunity for troubled companies to reorganize, but kills more than 70% of the businesses that take refuge in it while enriching legions of lawyers. In the nightmare world of Chapter 11, the gainers are seldom the creditors or the debtor company, but rather the bankruptcy bar, impeached in this book by their own conduct and the condemnation of their ethical brethren. Besides his own experience, the author draws examples from diverse industries -- trucking, food, real estate, oil, and publishing.

Strategic Bankruptcy

How Corporations and Creditors Use Chapter 11 to Their Advantage

Uses the bankruptcy case histories of Johns-Manville, Continental Airlines, and Texaco to illustrate how corporations have resorted to bankruptcy as a business strategy to achieve specific objectives

Detroit Resurrected: To Bankruptcy and Back

What happens when an iconic American city goes broke? At exactly 4:06 p.m. on July 18, 2013, the city of Detroit filed for bankruptcy. It was the largest municipal bankruptcy in American history—the Motor City had finally hit rock bottom. But what led to that fateful day, and how did the city survive the perilous months that followed? In Detroit Resurrected, Nathan Bomey delivers the inside story of the fight to save Detroit against impossible odds. Bomey, who covered the bankruptcy for the Detroit Free Press, provides a gripping account of the tremendous clash between lawyers, judges, bankers, union leaders, politicians, philanthropists, and the people of Detroit themselves. The battle to rescue this iconic city pulled together those who believed in its future—despite their differences. Help came in the form of Republican governor Rick Snyder, a technocrat who famously called himself “one tough nerd”; emergency manager Kevyn Orr, a sharp-shooting lawyer and “yellow-dog Democrat”; and judges Steven Rhodes and Gerald Rosen, the key architects of the grand bargain that would give the city a second chance at life. Detroit had a long way to go. Facing a legacy of broken promises, the city had to seek unprecedented sacrifices from retirees and union leaders, who fought for their pensions and benefits. It had to confront the consequences of years of municipal corruption while warding off Wall Street bond insurers who demanded their money back. And it had to consider liquidating the Detroit Institute of Arts, whose world-class collection became an object of desire for the city’s numerous creditors. In a tight, suspenseful narrative, Detroit Resurrected reveals the tricky path to rescuing the city from $18 billion in debt and giving new hope to its citizens. Based on hundreds of exclusive interviews, insider sources, and thousands of records, Detroit Resurrected gives a sweeping account of financial ruin, backroom intrigue, and political rebirth in the struggle to reinvent one of America’s iconic cities.

The Logic and Limits of Bankruptcy Law

A careful analysis of the fundamentals of bankruptcy law.

Bankruptcy

A Primer

For many businesses, bankruptcy is a looming reality, one that can take many forms. Bankruptcy is such a fact of life that a tangle of laws exist in the U.S. legal code. The most widely recognised type, Chapter 11, permits the reorganisation, as opposed to the liquidation, of financially troubled businesses. An economic analysis has to start with the observation that business failure is not always bad, as efficiency in the economy demands continual reallocation of resources. This book offers a thorough overview of the bankruptcy laws and procedures American businesses and consumers are faced with.

Prescription for Bankruptcy

A Doctor's Perspective on America's Failing Health Care System and How We Can Fix It

In Prescription for Bankruptcy, Dr. Edward Hoffer, a graduate of MIT and Harvard Medical School with more than 40 years of medical experience, examines every segment of the American health care system and describes their contribution to the ever-growing costs that negatively affect health care in America. Not only does he identify the many cost issues, he offers solutions to dramatically reduce these costs and improve health care in America. A doctor's visit will never be the same for readers of this book. Dr. Hoffer offers practical ideas that will empower everyone to take more control over their health care and related expenses.

Bankruptcy

A Study in Comparative Legislation

Bankruptcy Reform

Value of Credit Counseling Requirement Is Not Clear

The Bankruptcy Abuse Prevention & Consumer Protection Act of 2005 requires individuals to receive credit counseling before filing for bankruptcy & to take a debtor education course before having debts discharged. Concerns were raised that the new requirements could expose consumers to abusive practices by credit counseling agencies or become barriers to filing for bankruptcy. This report examines: (1) the process of approving counseling & education providers; (2) the content & results of the counseling & education sessions; (3) the fees charged; & (4) the availability of & challenges to accessing services. Includes recommendations. Charts & tables.

The Law of Bankruptcy

Including the National Bankruptcy Law of 1898, the Rules, Forms and Orders of the United States Supreme Court, the State Exemption Laws, the Act of 1867, Etc., Etc., Illustrated by the Bankruptcy Decisions Under the Act of 1867

A Manual Relating to Bankruptcy & Insolvency, and Imprisonment for Debt

Comprising the New Statute Law Verbatim, in a Consolidated and Readable Form, with the Rules, a Copious Index, and a Supplement of Decisions

The Law and Practice in Bankruptcy Under the National Bankruptcy Act of 1898

Courting Failure

How Competition for Big Cases Is Corrupting the Bankruptcy Courts

Exposes the corruption that permeates the U.S. bankruptcy system in a clear and compelling critique of the destructive power of forum shopping in which corporations choose courts that offer the most favorable outcome for bankruptcy litigation.

Ontario. Ministry of the Attorney General - Superior Court of Justice - Civil Court - Milton Courthouse

* hears all civil proceedings in Ontario, including commercial matters, personal injury, bankruptcy and insolvency cases, and litigation involving wills and estates

Visit the website for more information on civil cases

Canada. Canada Revenue Agency - Community Volunteer Income Tax Program and GIS Preparation Clinics

Offers volunteers who assist individuals who are unable to complete income tax and benefit returns.

These returns are not eligible for this service:
* returns for deceased persons
* individuals who file for bankruptcy
* self-employed individuals
* individuals who report capital gains or losses
* individuals who report employment expenses, or business or rental income and expenses

Volunteer tax preparation clinics are offered in various locations across Canada, generally between February and April of each year. Some clinics operate year-round.

Canada. Canada Revenue Agency - Community Volunteer Income Tax Program and GIS Preparation Clinics

Offers volunteers who assist individuals who are unable to complete income tax and benefit returns.

These returns are not eligible for this service:
* returns for deceased persons
* individuals who file for bankruptcy
* self-employed individuals
* individuals who report capital gains or losses
* individuals who report employment expenses, or business or rental income and expenses

Volunteer tax preparation clinics are offered in various locations across Canada, generally between February and April of each year. Some clinics operate year-round.

Canada. Innovation, Science and Economic Development - Competition Bureau - Hamilton Regional Office

An independent law enforcement agency that ensures Canadian businesses and consumers prosper in a competitive and innovative marketplace.
Responsible for the administration and enforcement of the following acts: Competition Act, Consumer Packaging and Labelling Act, Textile Labelling Act, and, Precious Metals Marking Act.

Canada. Innovation, Science and Economic Development - Measurement Canada - South Western Ontario District Office

Ensures the integrity and accuracy of measurement in the Canadian marketplace. Develops and administers the laws and requirements governing measurement, evaluates, approves and certifies measuring devices, and investigates complaints of suspected inaccurate measurement.

Travel Industry Council of Ontario

Association that answers consumers' inquiries and attempts to mediate complaints arising from the purchase of travel services from registered travel agencies. * Claims against the Ontario Travel Compensation Fund for the non-provision of travel services due to the bankruptcy or insolvency of an Ontario registered travel agency or travel wholesaler, or the cessation of an airline or cruise line.

Family Counselling Centre of Brant - Family and Credit Counselling - Brantford - Brant Ave

Family Services include:

* individual/couple/family counselling
* employee assistance program (EAP)
* public awareness/education
* options to violence/women initiating new growth in self-esteem (WINGS)
* sexual assault counselling
* early learning and parenting centres
* partnership with Brant Family and Children's Services

Credit Counselling and Consumer Education includes:
* budget counselling
* debt repayment program
* bankruptcy counselling

Family Counselling Centre of Brant - Family and Credit Counselling - Brantford - Brant Ave

Family Services include:

* individual/couple/family counselling
* employee assistance program (EAP)
* public awareness/education
* options to violence/women initiating new growth in self-esteem (WINGS)
* sexual assault counselling
* early learning and parenting centres
* partnership with Brant Family and Children's Services

Credit Counselling and Consumer Education includes:
* budget counselling
* debt repayment program
* bankruptcy counselling

Ontario. Ministry of the Attorney General - Superior Court of Justice - Civil Court - Guelph - Woolwich St

All civil proceedings in Ontario are heard by the Superior Court of Justice. Civil cases are brought before the court following the Rules of Civil Procedure (filing an action or application). Examples of Civil court hearings include:
* injury
* bankruptcy and insolvency cases
* litigation involving wills and estates

Ontario. Ministry of the Attorney General, Court Services - Superior Court of Justice, Bankruptcy Court / Commercial List Office - Assessment Office

Handles bankruptcy related petitions, proposals and discharges, toronto.bankruptcy@ontario.ca * also civil litigation that falls within specific statutes such as Commercial List issues, toronto.commerciallist@jus.gov.on.ca

Family Counselling Centre of Brant - Utility Assistance Programs - Brantford - Brant Ave

Union Gas Customers Only - LEAP is a province-wide program which helps low-income families and individuals living at or below the poverty line who have exhausted all other sources of financial support. Approved low-income households receive a one-time grant to assist in paying for natural gas bills, up to a maximum of $500 (program available while funds last).
Must contact 1-855-487-5327 to access assistance

Energy Plus Inc and Brantford Power Customers - comprehensive and year-round emergency financial assistance program by the Ontario Energy Board in order to assist low-income energy customers better manage their bill payments and energy costs. The delivery of LEAP relies heavily on the cooperation between utilities and social service agencies. Agencies screen and assess applicants in need
* grant program intended to provide emergency relief to eligible low-income customers of utilities and unit sub-metering providers who may be experiencing difficulty paying current arrears. It is not intended for regular or ongoing bill payment assistance.
Family Counselling Centre of Brant administers the LEAP program for customers of Energy Plus Inc and Brantford Power (program available while funds last)

Ontario Electricity Support Program (OESP) - low-income families can apply online or through our agency to receive a monthly credit ($40 - $113) on their hydro bill for 2-5 years, they can re-apply again if the program is still in existence Find out more here

Canada. Innovation, Science and Economic Development - Office of the Superintendent of Bankruptcy, Ontario Region

Licenses and regulates the insolvency profession * supervises the administration of estates in bankruptcy, commercial reorganizations, consumer proposals and receiverships * maintains a public record of bankruptcy and insolvency filings * records and investigates complaints from debtors and creditors regarding the insolvency process

Find a licensed Insolvency Trustee