1.  Exemptions from Distribution Not all property of a bankrupt person is ‘exigible’ which means not all property may be accessed by creditors.  The consequences is that certain property may be retained by a bankrupt person.  Determining what that property is can sometimes have complications.

2. Secured Debts vs. Unsecured Debts If a creditor is secured, they may enforce their rights against specific property notwithstanding the bankruptcy or any exemptions to it.  It is important to determine who such creditors are and against what property they may have rights.

3. Terms of Discharge Often terms are added to a discharge owing to such factors as point #4…

4. How many times has the bankrupt been bankrupt previously? More than one bankruptcy may make achieving discharge more difficult.

5. Filing Claims Often a claim will be filed while taking action against other liable persons or corporations who are not bankrupt.

If you require an Alberta bankruptcy lawyer please contact us at (780) 800-5511 or by email to info@stewartbrownleelaw.com.  We can sometimes handle bankruptcy situations on a percentage fee or contingency fee basis.