People, from all walks of life, file for bankruptcy or a proposal.

Income tax refunds, as at the date of bankruptcy, are assets that vest in the trustee.

From the perspective of which is better for society and the economy it is this writer’s opinion that the US system is superior to the Canadian.

The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) advised their members today that it is highly unlikely that the changes to the Bankruptcy and Insolvency Act will be proclaimed prior to 2007.

Bankruptcies fall by 6% in February, 2006.

“The objective is to maintain confidence in the integrity of the Bankruptcy and Insolvency Process,” stated Inspector Brian Verheul of the RCMP GTA Commercial Crime Section.