Canadian bankruptcies and insolvencies are filed with the Office of the Superintendent of Bankruptcy, which is answerable to Industry Canada.

The office can also provide information to help debtors and creditors understand their legal options.

There’s also help in preparing a budget and gives details of options available to those facing financial problems.

It also holds the bankruptcy and insolvency records, which are available to the public. This searchable database covers all of Canada and dates back to 1978. It gives searchers the bankruptcies or consumer proposals of individuals and organizations.

The office also licenses trustees, will investigate complaints with respect to the insolvency/bankruptcy process and it sets and enforces professional standards.

The trustees file the paperwork involved with a bankruptcy and notify creditors, they ensure debtors receive mandatory budget counselling, sell the assets and distribute the funds to creditors. Their fees are regulated by the Bankruptcy and Insolvency Rules.

If you’re looking for help in any of these matters, call the nearest office at (416) 973-6486, or check out the website, and follow the links.