Corporation with a bankruptcy trustee license.
Sébastien Iannitello, CPA, CA, CA - IFA, CFE founded Iannitello & Associés Inc. and is its President. This company holds a bankruptcy trustee license issued by the Office of the Superintendent of Bankruptcy to Mr. Iannitello.
This company carries out turnaround and financial restructuring mandates. Companies and lending institutions rely on us when a financially troubled company requires a qualified and independent external perspective.
Faced with the failure of a business turnaround plan, the company must have recourse to the provisions of the Bankruptcy and Insolvency Act or the Companies' Creditors Arrangement Act. The orderly liquidation of the company’s assets and an informal creditor settlement proposal may also be a viable alternative in some cases.
Our company may act as trustee under a proposal or arrangement submitted to the creditors to propose an acceptable arrangement that ensures the survival of the company. In the case of an orderly liquidation of assets, we will advise the company about the appropriate steps to take. In some cases, outright bankruptcy and the liquidation of the company’s assets becomes the only alternative.
When a company is facing financial difficulties, the directors of the company may feel the backlash. These directors may incur personal liability in light of their personal guarantee for a company loan. In addition, they may face personal claims for wages, vacation pay, deductions at source and consumption taxes not remitted by the company.
Faced with these complex situations, it becomes necessary for the company and its officers to rely on our expertise — before sinking their teeth into other irreversible problems.
You are overwhelmed by debt and cannot even imagine the day you’ll be debt-free. You are experiencing temporary, surmountable financial difficulties — you need a hand. You have guaranteed business debts or you are personally liable for tax debts.
A consumer proposal could be the answer. We can help you.
Otherwise, if your financial situation is too serious, it will be necessary to consider personal bankruptcy.
In such a situation, you need an attentive ear and an experienced person who can help you. This is what we can offer you.