Most private bankruptcies in Ontario are summary administrations. Expenses in the summary administration are according to a government tariff set our under Rule 128 with the Bankruptcy & Insolvency Act and so are based mostly with a share of realizations in a very bankrupt’s estate.
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The moment approved by the creditors, it must then get Court approval. When authorized, all unsecured creditors are sure by the Proposal, not just the creditors who voted in favor. If your Proposal isn't recognized, the debtor is bankrupt.
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