In most cases, the bankruptcy of a corporation in Canada effectively dissolves the business, which means the company will no longer exist after the bankruptcy is finalized. Once all documents have been signed and filed with the Office of the Superintendent of Bankruptcy, the trustee working with you will sell all the assets of the corporation for a realizable value. The proceeds from these sales are then distributed to creditors following the rules and regulations outlined in the Bankruptcy and Insolvency Act. If you are not ready to call it quits on your corporation and still believe it is viable, our team can work with you to determine an alternative to bankruptcy, such as a proposal or other option. We’re here to help corporate businesses in their time of need, determining the best course of action.