On February 7, 2008 Doug Hoyes and Ted Michalos appeared as expert witnesses before the Senate Standing Committee on Banking, Trade and Commerce to provide their testimony on proposed changes to Canadian bankruptcy law.
The new bankruptcy rules received Royal Assent by the Federal government on December 14, 2007.
On July 7, 2008 the new student loan bankruptcy rules came into force.
Below we provide video clips where you can listen to and watch Doug's and Ted's testimony on different subjects.
You can also download the entire session video (1:07 min).
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Doug's Opening Remarks In his opening remarks, Doug discussed the people that we have helped since 1999 (2:40 min). |
The Stigma of Bankruptcy The Chair of the Committee asked us to comment on the stigma of bankruptcy (4:54 min). |
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Student Loans - Part I In our testimony we discussed allowing students to discharge their student loans, in cases of hardship, after two years (2:42 min). |
Student Loans - Part II Here we present some of the questions Senators had about the student loan rules (3:28 min). |
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Student Loans - Part III Later on in the session, the Senators asked more questions about bankruptcy rules on student loans (8:44 min). |
Student Loans - Part IV More on the changes to the bankruptcy rules and the new treatment of student loans (7:01 min). |
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Consumer Proposals n our testimony before the Senate we discussed the Hoyes Michalos' approach to avoiding bankruptcy by filing a proposal (6:49 min). |
Canada Revenue Agency - Part I The Senators asked a number of questions about Canada Revenue Agency and proposals (8:29 min). |
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Canada Revenue Agency - Part II The Senators asked more questions about Canada Revenue Agency and proposals (6:01 min). |
If you have any questions regarding bankruptcy rules in Canada, please feel free to contact our Ontario bankruptcy offices today. We are happy to help.