Insolvency And Bankruptcy

If your business is in trouble and you must declare bankruptcy, a trustee will handle the process. Before you file for bankruptcy, come and talk to us.

Our Oshawa business bankruptcy lawyer can:

  • Discuss options with you, including any alternatives to declaring bankruptcy, helping you explore the legal consequences of every option
  • Help you protect yourself and your family before you declare bankruptcy by protecting your assets, and help minimize the negative impact of your business's bankruptcy on your personal finances
  • Go to court on your behalf to obtain a discharge for bankruptcy

Winding Up And Dissolution Of A Business

When a business is no longer operating, it should be legally terminated. This can be done by a liquidator, through winding up, or by the existing management of the corporation through dissolution.

There are pros and cons to both the dissolution process and winding up process. Let us help you make the best decision for you on how to proceed.

Aitchison Law Office can provide many services to you as you legally terminate your business, and help you to:

  • Settle all debts, obligations and liabilities
  • Distribute surplus to shareholders and employees, or make alternate arrangements if distribution is not possible
  • Get shareholders to pass the necessary resolutions, appointing a liquidator if necessary
  • File the proper notices with the Corporations Tax Branch and the Canada Revenue Agency to get consent from the appropriate government offices, in order to protect directors and officers from being personally liable for the corporation's debts
  • Publish the appropriate notices in the Ontario Gazette