http://www.bankruptcy-ontario.org/uncategorized/2006/10/bonds-going-bankrupt-in-ontario.html Mon, 23 Jan 2012 18:51:03 +0000 hourly 1 http://www.bankruptcy-ontario.org/uncategorized/2006/10/bonds-going-bankrupt-in-ontario.html/comment-page-1#comment-4 J. Douglas Hoyes, CA, Trustee Tue, 03 Oct 2006 12:47:44 +0000 http://www.bankruptcy-ontario.org/?p=74#comment-4 If you go bankrupt in Ontario, you lose whatever bonds you have in your name. You are required to surrender the bonds to the trustee; they will cash them in and the proceeds will be distributed to your creditors. If you don't disclose the existence of the bonds and your trustee later becomes aware of them, you would be guilty of commiting a bankruptcy offence, which could lead to your bankruptcy discharge being opposed, and perhaps more serious sanctions. If you have already started your bankruptcy, I strongly suggest that you discuss this with your trustee. If you go bankrupt in Ontario, you lose whatever bonds you have in your name. You are required to surrender the bonds to the trustee; they will cash them in and the proceeds will be distributed to your creditors. If you don’t disclose the existence of the bonds and your trustee later becomes aware of them, you would be guilty of commiting a bankruptcy offence, which could lead to your bankruptcy discharge being opposed, and perhaps more serious sanctions. If you have already started your bankruptcy, I strongly suggest that you discuss this with your trustee.

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