http://www.bankruptcy-toronto.net/uncategorized/2006/05/business-bankruptcy-in-toronto.html Just another WordPress weblog Mon, 23 Oct 2006 17:24:40 +0000 hourly 1 http://wordpress.org/?v=3.0.1 http://www.bankruptcy-toronto.net/uncategorized/2006/05/business-bankruptcy-in-toronto.html/comment-page-1#comment-4 J. Douglas Hoyes, CA, Trustee Thu, 29 Jun 2006 13:15:07 +0000 http://www.bankruptcy-toronto.net/?p=10#comment-4 Not necessarily. Your incorporated business is a separate legal entity, so the debts of the business are not automatically the debts of the shareholders. However, if you have personally guaranteed any of the business debts, your personal financial situation may be in jeopardy; if that's the case, I suggest you <a HREF="http://www.bankruptcy-Toronto.com/askus.htm" REL="nofollow" rel="nofollow">contact a Toronto bankruptcy trustee</a> for a detailed review of your situation. Not necessarily. Your incorporated business is a separate legal entity, so the debts of the business are not automatically the debts of the shareholders. However, if you have personally guaranteed any of the business debts, your personal financial situation may be in jeopardy; if that’s the case, I suggest you contact a Toronto bankruptcy trustee for a detailed review of your situation.

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