| Author: |
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SM |
| Date: |
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September 7, 2001 |
| Question: |
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I own a small limited company that is in financial trouble due to a slow summer. I plan on closing the business but I don't have enough liquid assets to cover the outstanding debts. Some of my suppliers want the inventory I have back but I don't have enough in stock to cover what I owe them. Also, I have a large overdraft at my bank with a loan that is compounding my problems. I am personally liable for the bank debts and there is a cosigner on them as well. What options do I have?
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From: |
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Ann Clarke, Collins Barrow Limited |
| Date: |
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September 10, 2001 |
| Answer: |
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Your situation is too involved to give you a quick answer. I suggest you
call and speak to a Trustee to provide and obtain information for your
best course of action. You can reach Collins Barrow Limited in Alberta
at 310-8888, or check your Yellow Pages under "Bankruptcy."
Ann Clarke
phone: (403) 296-2972
aclarke@moneyhelp.ca
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