Bankruptcy Calgary Questions
Bankruptcy Calgary Questions & Answers
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Anonymous |
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February 9, 2009 |
Question: |
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I have a Ltd. company working in the oilfield. Becouse of the slowdown in work my personal income has been reduced along with the companies, can my wife and I still declare personal bankruptcy and not disturb the company?
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From: |
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Karen, Alger & Associates Inc. |
Date: |
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February 9, 2009 |
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You cannot be a director of a limited liability company while in bankruptcy. The value of the company would need to be determined if you are a shareholder. Your share value is an asset. If you want to continue the corporation then it essentially needs a director and the value determined.
Karen Rideout
phone: (403) 296-2973
krideout@alger.ca
If you wish to talk to one of the Bankruptcy Calgary professionals at Alger & Associates Inc., you can call us TOLL FREE from anywhere in Alberta at 310-8888. After hour appointments at our Calgary bankruptcy offices are available.
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