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Alberta Bankruptcy Question & Answer Forum


Author:

  

Anonymous

Question:

 

Hi, i as well as others have invested in a company in Calgary. They were supposed to pay interest only for a term ( secure promissory notes) the cheques started to bounce in October. I/we have sent demand/default letters to this company and their lawyers with no answers. My question is what is the procedure in Alberta to petition a company into bankruptcy?



From:

 

Alger & Associates Inc.

Date:

 

Dec 04, 2008

Answer:

 

You need to first find a trustee who is willing to act and that generally means you would have to pay or guarantee the trustee's fees. The complexity of the filing would dictate the costs.


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