Proposals-And-Bankruptcy-Alternatives

Helping Creditors Fight Fraudulent Bankruptcies And Proposals

Fraudulent activity within Canada's bankruptcy regime is more common than ever. High-wealth individuals are making systematic efforts to hide assets while they evade debt, and creditors often feel they have no recourse. But all is not lost.

We at Papazian | Heisey | Myers have acted for many creditors with these exact concerns and we have assisted these clients by collecting thousands and even hundreds of thousands of "additional" dollars from debtors who have been involved in improper bankruptcies and improper proposals, fraudulent transfers, fraudulent preferences and transfers at under value.

If you are a creditor and suspect that your debtor committed one of these or any other bankruptcy offence, PHM can assist you in uncovering these activities and obtaining Court Orders requiring repayment.

BANKRUPTCY IS NOT NECESSARILY THE END OF THE LINE

Many creditors mistakenly conclude that once a debtor files a bankruptcy proposal, bankruptcy alternative or otherwise seeks bankruptcy protection, there is little choice but to wait out the process in the hopes of recapturing little, if any, of the amounts owing by your insolvent debtor.

Our lawyers have fought similar cases throughout the Greater Toronto Area, Ontario and Canada. We know that bankruptcy is not necessarily the end of your collection efforts, as you may have alternatives and our role is to find these avenues and craft a solution designed to gain the best recovery possible for you.

OPTIONS, REMEDIES AND EXTRAORDINARY MEASURES

PHM's legal team has become adept at pursuing debtors who have systematically dissipated, hidden or transferred their assets to friends, family members and business partners. If you suspect that you have been defrauded in this manner, we can work together with you to enforce your interests through a variety of possible methods such as:

• garnering a creditor majority to control or even to (reject or) vote down a consumer proposal
• going to court to attempt to encourage the court to reject the proposal
• forcing the debtor into negotiating with you in order to obtain an improved proposal or alternate repayment arrangements
• pursuing fraudulently conveyed assets
• pursuing annulment of improperly filed bankruptcies
• suing to cancel a debtor's discharge from bankruptcy
• seeking an examination of a debtor's financial affairs to uncover undisclosed information
• seeking an order, (mareva) injunction or other extraordinary remedy to freeze debtor assets or frustrate fraudulent activity

If you suspect that a debtor has dishonestly abused the bankruptcy system to deprive you of your just debts, we can launch an aggressive campaign to enforce your rights and protect your interests.

CONSULT ABOUT YOUR OPTIONS

Our lawyers are ready to analyze your case and if we accept your retainer, we will be pleased to advise you on your options. Call +1.416.601.2701 or email us.