Government Amends Insolvency Legislation relating to RRSPs and Student Loans (July 2008)

RRSP Change
Money in a RRSP, RIF or a deferred profit sharing plan will no longer be available for distribution among a bankrupt’s creditors.  Any contributions made in the 12 months before the date of the bankruptcy are subject to a claw back.  Where provincial legislation exempts RRSPs from execution, the provincial legislation will apply.
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Insolvency Legislation Amendments Come into Force (July 2008)

The Government of Canada has finally amended certain portions of the Bankruptcy and Insolvency Act (the “BIA”) as well as introducing the Wage Earner Protection Program Act (the “WEPP”) and has made other amendments to legislation relating to Student Loans and RRSPs etc. The General Rules relevant to the BIA amendments that were brought [...]

Sxip Identity Corporation – in Bankruptcy (July 2008)

Sxip Identity Corporation made an assignment in bankruptcy on July 28, 2008. The creditor package  can be obtained by clicking on the link below.  For further information on this bankruptcy, please contact Stephen Boale at sboale@boalewood.ca or John McEown at jmceown@boalewood.ca or call either of them at (604) 605-3335.
http://www.boalewood.ca/index.php?option=com_content&task=view&id=56&Itemid=41