In a landmark ruling released on Friday, November 13, 2015 the Supreme Court of Canada has ruled that debts owed to the 407 ETR Highway in Canada are dischargeable in bankruptcy. In their decision regarding 407 ETR Concession Company Limited the Supreme Court decided that federal bankruptcy law is paramount to provincial legislation, and therefore 407 ETR […]
The reason you file a bankruptcy or consumer proposal is to eliminate your debts. While there are some exceptions (like special rules for student loans), bankruptcy eliminates most unsecured debts including government debts like income taxes. There is, however, one debt that stubbornly refuses to go away, and that’s a debt owing to the 407 […]
We wrap up our Debt Free in 30 FAQ series with a discussion with Adam Rauf, bankruptcy trustee and consumer proposal administrator about how lease obligations, tax debts and 407 ETR debts are treated in a bankruptcy or consumer proposal and whether or not you can pay your proposal off early.
We live in a rapidly changing economy and our legislation, including bankruptcy legislation, needs to adapt to those changes. To ensure that bankruptcy in Canada continues to meet the needs of both consumers and creditors, Industry Canada conducts a review of insolvency rules and legislation every five years. As part of the process they ask […]
Here is the latest update regarding 407 ETR debt and whether or not it is dischargeable debt in a bankruptcy or proposal. Basically, the Courts have provided 407 with leave to overturn the Court of Appeal decision that 407 debt should be included as a debt in a bankruptcy or a proposal and discharged along […]
407 ETR debts are eliminated if you file a consumer proposal or bankruptcy in Ontario, according to a new court decision.