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

Bankruptcy Notice – Power Packaging Inc.

Notice of Auction for all remaining assets of Power Packaging Inc
Delta based plastic packaging manufacturer.
More information including catalog and pictures can be seen here:

David Wood, CIRP

David is a Licensed Trustee and a Chartered Insolvency and Restructuring Professional (“CIRP”). He has practiced exclusively in insolvency related matters since 1983 and received his Trustees licence in 1995. He has been involved in numerous personal and corporate insolvency matters in a variety of industries. In addition, he has worked with lenders and debtors [...]

Stephen Boale, CGA, CIRP

Stephen Boale is a member of the Canadian Association of Insolvency and Restructuring Professionals (“CAIRP”), a licenced Trustee in Bankruptcy and a Certified General Accountant. Prior to forming Boale, Wood & Company Ltd., Stephen spent ten years practicing exclusively in insolvency matters with a big four chartered accountancy firm, and was previously an Official Receiver [...]

Flexcan Packaging Inc.

On March 22, 2005, Boale, Wood & Company Ltd. was appointed Trustee in Bankruptcy of Flexcan Packaging Inc. The assets will be sold by auction Flexcan premises located at 7388 Hume Avenue, Delta, BC. The auction will be conducted by Maynards Auctioneers (604) 876-6787. Please contact them for additional information. A listing of the equipment [...]

SMS Industries Limited

Boale, Wood & Company Ltd. was appointed Trustee of the Estate of SMS Industries Limited (SMS) on May 11, 2005. The assets will be sold by auction on June 28, 2005 at the SMS premises located at 6 – 17 West 17th Avenue, Vancouver, BC. The auction will be conducted by TimeLine Sales. Please contact [...]

AOG Air Support Inc. – in Receivership

Boale, Wood & Company Ltd. was appointed Receiver of AOG Air Support Inc. on May 5, 2006. We are offering the assets of AOG for sale. Please contact us should you wish to receive additional informational or clarifciation of any items in the Information memorandum.
Bankruptcy Trustee

Bankers Dispatch Company Ltd. – in Bankruptcy

Bankers Dispatch Company Ltd. filed an assignment in bankruptcy on February 17, 2007. Below is a copy of the Notice of First Meeting of Creditors. For further information, please contact David Wood at Boale Wood