Corporate Reorganization and Bankruptcy Lawyer

Here to solve your problems

Are you or your business in financial trouble? Do you have debt problems? There are many different ways you can respond to financial difficulties. Our knowledgeable team at Navigator Law can help guide you through a tough time and help you discover options and opportunities to recover financially.

Navigator Law has extensive experience helping our clients in the areas of collections, bankruptcy, and insolvency.

We have worked with large and small organizations in all types of litigation related to debt recovery, bankruptcy, insolvency, and commercial re-organization.

Our law firm is also able to provide legal advice to directors, creditors, shareholders and professionals in proceedings based on alleged fraudulent transfers, preferences, lenders’ liability, and other matters relevant to our clients’ needs.


Insolvency is an informal description of a situation where a company is unable to pay its debts and/or cover its expenses. It’s not a legal state and does not mean that the process of receivership or bankruptcy has been initiated.

If your business is insolvent, our team at Navigator Law can help advise you on the best path forward.


If an individual or company is insolvent, receivership is a process to help creditors recover any outstanding debt. Creditors must be informed within 10 days of the company’s appointment into receivership.


In most cases, the court appoints a Licensed Insolvency Trustee as a receiver. A receiver is a person responsible for taking possession of and selling or liquidating assets to pay back any debt owed. Unlike a privately appointed receivership, if the receiver is court-appointed, creditors cannot sue the company in receivership while the process is ongoing.

There can be many different creditors as stakeholders to a company in receivership. A secured creditor is a lender who takes collateral as security when providing a loan. For example, a financial institution can provide a mortgage for real estate purchases such as a home in exchange for a lien on the home. This means that if you are unable to make mortgage payments, the bank or financial institution can take possession of your home.

Privately appointed receivers will usually only act on behalf of secured creditors while court-appointed receivers will act on behalf of all types of creditors.


Filing bankruptcy is a legal process where an individual or corporate debtors are released from the obligations of repaying their debts with some exceptions.

In the Canadian bankruptcy system, the insolvency proceeding is a government-regulated process under the Bankruptcy and Insolvency act. The appointment, responsibilities and fees for licensed insolvency trustees are regulated by the federal government from the Office of the Superintendent of Bankruptcy (OSB)

In many ways, the bankruptcy process is similar to receivership. In both cases, a licensed insolvency trustee is tasked with repaying as much debt as possible to creditors by selling or liquidating available assets.

Bankruptcy doesn’t mean that you are released from the secured debt. However, you’ll no longer have to make payments towards unsecured debt, which typically frees up cash for secured debt. In those cases, that means that you’ll be able to keep assets that are held as collateral in secured debt.


There are many challenging situations that can lead to personal bankruptcy. Divorce, serious illness, or the death of a spouse are examples of events that change your life and financial situation for the worse.

If you are at least 18 years old and owe more than $1,000 you may be eligible to file for personal bankruptcy as a last resort.

Consumer Proposals

As an alternative to bankruptcy, an individual can choose to file a consumer proposal. A consumer proposal is a legally binding agreement between a creditor and debtor and usually provides the debtor with some kind of a deal or discount if they are unable to make interest payments. The difference between bankruptcy and a consumer proposal is certainty and control of the process.

With a consumer proposal, both parties know exactly what they are expected to pay and receive. Through bankruptcy, both parties might be worse off.

Corporate Reorganization

A corporate reorganization can be a way to recover a corporation’s finances and improve a financial situation after a bankruptcy filing. If a corporation is faced with bankruptcy, it can also be used to extend the life of a company and prevent situations that led to the financial crisis from reoccurring.

As a business owner, it can be an incredibly stressful time to be going through a corporate reorganization. Our competent team at Navigator Law is here to make the process as simple and painless as possible.

Corporate restructuring can be done under the bankruptcy Insolvency Act or Companies’ Creditor Arrangement Act (CCAA). An experienced corporate lawyer or insolvency lawyer can help advise you on what the best course of action is in your circumstances.


In some circumstances, you may need to go to court to protect your interests. For example, if there are many competing stakeholders to a bankruptcy or receivership process and you don’t think you have been treated fairly.

You may also want to turn to litigation for debt collection, enforcement, or foreclosures.

The experienced legal team at Navigator Law can help you with the right legal strategy that effectively protects your assets and interest.

Contact Us

Our experienced and knowledgeable legal team at Navigator Law can help you with any type of insolvency matter, debt issue, or to sort out financial difficulties. Contact our law office today to make an appointment.


In Canada, bankruptcy can be handled by a bankruptcy trustee, who is typically a professional accountant. It can also be beneficial to involve a lawyer who focuses on bankruptcy & insolvency law.

A government licensed insolvency trustee can be appointed a receiver. This licensed trustee can be a lawyer or accountant.

Yes, receivership and bankruptcy can occur at the same time, but receivership can also happen without a company going through bankruptcy.

Mostly, yes. Some types of debt are not covered by the bankruptcy. Even if you have gone through a bankruptcy, you are still liable for child support, court-imposed fines, and secured debt.

No. A company that has filed for protection under the Companies’ Creditor Arrangement Act (CCAA) is a way to prevent receivership/bankruptcy. CCAA protection enables the company to make the reorganization necessary to improve its financial situation.