Present an offer to your creditors!
The commercial proposal 
, consists in presenting an offer to your creditors , whereby you propose to reduce the amount of your debts, to extend the repayment time, or to combine these two options.
The result: you continue to operate, you save jobs, you can reorganize and move quickly before your clients change suppliers. In fact, the commercial proposal is generally preceded by a notice of intent that shelters you from creditors’ procedures while you are preparing your proposal.
Is it the solution for you?
- Your company can no longer meet its obligations as they come up.
- Your liabilities exceed your assets.
Note: Companies whose liabilities exceed $5 million can opt for Bill C-36 .
- With a turnaround plan and financial restructuring, your company could once again be profitable.
Advantages
- Protects you from all seizure
- Allows you to hold on to your property and continue to operate
- Freezes liabilities
- Suspends creditors’ recourse and avoids procedures (with exceptions)
- Can release directors from their statutory responsibility for unpaid government debts (GST and QST)
- Under certain conditions, makes it possible to cancel commercial leases.
Our counsellors will help you prepare proposals that are as interesting and acceptable to you as they are to your creditors. Call them today!
