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January 2019 Archives

Federal funds for laid-off workers increased

The federal Wage Earner Protection Program Act (WEPPA) provides funds for employees who go unpaid as a result of their employer's bankruptcy. or receivership This program is administered with the help of the trustee in bankruptcy or receiver (as the case may be).

Creditor's inattention to proposal terms leads to release of joint debtor

When a debtor makes a proposal under the Bankruptcy and Insolvency Act ("BIA"), the terms of that proposal must be put to creditors for a vote. If accepted, the proposal will then be submitted to the court for approval and then performed by the debtor; if rejected, the debtor will be deemed bankrupt.

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