| Author: |
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Campbell |
| Date: |
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December 5, 2002 |
| Question: |
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I'm having trouble keeping my business afloat. I am considering receivership. I personally have good credit however I was wondering if the receivership to my corporation with no secured debt would effect me personaly. I have given personal guarentees on corporate unsecured debt.
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From: |
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Ann Clarke, Collins Barrow Limited |
| Date: |
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December 9, 2002 |
| Answer: |
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If your corporation is no longer viable and ceases operation, you would be personally liable for any debts you have personally guaranteed as well as any outstanding corporate G.S.T. and Source Deduction debts owed to C.C.R.A. (Revenue Canada.)
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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