The proposal is a procedure that can be requested by any insolvent person, i.e. a natural person or a legal person (corporation). The proposal is made to the general creditors' estate. Such a proposal is constituted only if the outstanding debt is commercial by nature, or if it is a cumulative personal debt exceeding $250,000. Our consultants will assist you with your proposal in Gatineau, Ottawa, Val-d'Or or in another of our 15 agencies.
The proposal is used to:
In addition, a corporation may benefit from the protection provided by the Bankruptcy and Insolvency Act by filing a notice of intention, which allows for a stay of proceedings until the proposal is filed. This procedure provides a reasonable period of time to implement a structural reorganization or to obtain new financing to ensure business continuity.
The proposal may provide for: