Bankruptcy Documents

an example of an Assignment.

ASSIGNMENT FOR THE GENERAL BENEFIT OF CREDITORS
(SECTION 49 OF THE ACT)

Full Legal name of debtor: John Debtor

 

Address: 123 Maple St., Toronto, Ontario

 

Occupation: Unemployed

Name of Trustee: Richard Trustee

I, being unable to pay my debts as they become due, hereby assign and abandon all my property to the trustee, for the general benefit of my creditors pursuant to the Bankruptcy and Insolvency Act.

Signed at the City of Toronto,  in the Province of Ontario, in the presence of John Debtor.

Witness: John Court Clerk

Date: December 10, 2006 

Debtor:  John Debtor


an example of an application for a bankruptcy order.

IN THE ONTARIO SUPERIUR COURT OF JUSTICE
IN BANKRUPTCY

IN THE MATTER OF THE BANKRUPTCY OF: JOHN CREDITOR

BETWEEN:

                                WILLIAM CREDITOR
                                                                                                                                                Applicant

    1. and –

 

JOHN DEBTOR
                                                                                                                Petitioner

 

APPLICATION FOR A BANKRUPTCY ORDER.

I, WILLIAM CREDITOR, of the City of Toronto, in Ontario petition the Court that JOHN DEBTOR be adjudged bankrupt and that a bankruptcy order be made in respect of the property of JOHN DEBTOR, lately residing at the City of Winnipeg, in the Province of Manitoba and say:

1. THAT the said JOHN DEBTOR now resides at the City of Toronto, in the Province of Ontario, within the jurisdiction of this Court.

2. THAT the said JOHN DEBTOR is justly and truly indebted to me in the sum of $10,000.

3. THAT I do not, nor does any person on my behalf, hold any security on the said debtor’s property, or on any, chapter thereof, for the payment of the said sum.

  1. THAT JOHN DOE, within the six months next preceding the date of the filing of this Application, has committed the following act of bankruptcy:

 

(a) he has ceased to meet his liabilities generally as they become due

  1. THAT RICHARD TRUSTEE, of the City of Toronto, in Ontario, is a person qualified to act as trustee of the property of the said debtor, has agreed to act as such and is acceptable to the petitioner
  2.  

 

DATED at the City of Toronto, in the Province of Ontario, this 10th day of December, 2006.

SIGNED BY THE PETITIONER
IN MY PRESENCE:
John Witness

SIGNATURE OF PETITIONER:

William Creditor

ISSUED at the City of Toronto, in the Province of Ontario, this 10th day of December, 2006.

John Registrar.


an example of a BANKUPTCY ORDER.

IN THE ONTARIO SUPERIUR COURT OF JUSTICE
IN BANKRUPTCY

IN THE MATTER OF THE BANKRUPTCY OF: JOHN CREDITOR

BETWEEN:

                                WILLIAM CREDITOR
                                                                                                                                                                Applicant

    1. and –

 

JOHN DEBTOR
                                                                                                                                Petitioner

 

BANKUPTCY ORDER.

UPON the application of William Creditor, of the City of Toronto, in the Province of Manitoba, a creditor filed the 10th day of December, 2006.

AND UPON reading the affidavit of WILLIAM CREDITOR, filed with this court and hearing of JOHN CREDITOR

IT IS FOUND by this Court that the following act of bankruptcy has been committed:

JOHN CREDITOR within the six months next preceding the date of the filing of this petition, ceased to meet his liabilities generally as they became due.

1. IT IS ORDERED that the said JOHN CREDITOR lately residing at the City of Toronto, in the Province of Ontario, be and is hereby adjudged bankrupt and a bankruptcy order is hereby issued against the said JOHN CREDITOR.

2. IT IS FURTHER ORDERED that RICHARD TRUSTEE of the City of Toronto, in the Province of Ontario, be and is appointed the trustee of the estate of the said bankrupt.

3. IT IS FURTHER ORDERED that the costs of and incidental to this application and order be paid to the applicant out of the assets of the estate upon taxation thereof.

                                                                                               
JOHN REGISTRAR
Registrar in Bankruptcy

You, John Debtor, being a bankrupt, are required to attend at the office of John Receiver, the official receiver, on the day of December 20, 2006, at 10 am, to answer such questions with respect to your conduct, the causes of your bankruptcy and the disposition of your property as may be put by the said official receiver, and take notice that if you fail to present yourself for examination, the court may by warrant cause you to be apprehended and brought up for examination and may order you to commit the offence under the Bankruptcy Act.


an example of a consumer proposal.

 

IN THE ONTARIO SUPERIOUR COURT OF JUSTICE
IN BANKRUPCY

IN THE MATTER OF THE PROPOSAL OF JOHN DEBTOR, OF THE CITY OF TORONTO, IN THE PROVINCE OF ONTARIO

 

PROPOSAL.

I, JOHN CREDITOR, of the City of Toronto, in the Province of Ontario, the above named debtor submit the following proposal under the Bankruptcy Act:

1. THAT payment of the claims of the secured creditors shall be made as follows:

Secured creditors shall be fully paid in accordance with the present arrangements existing between me and the holders of secured claims, or as may be arranged between me and the holders of secured claims, or the holders of secured claims shall be allowed to realize upon their security.

2. THAT the payments to all creditors’ claims in priority under the Bankruptcy Act shall be made as follows:

Preferred claims are to be fully paid in priority to all claims of unsecured creditors.

3... THAT provision for payment of all proper fees and expenses of the trustee including payment of his legal fees and disbursements shall be made as follows:

   All such fees and expenses shall be fully paid in priority to all claims of creditors.

4. THAT provision for the payment of all claims of unsecured creditors shall be made as follows:

20% of the outstanding principal amounts of debts owing to unsecured creditors, without interest, is to be paid respectfully on each January 1, May, 1 and October, 1, 2007.

  1. THAT RICHARD TRUSTEE of the City of Toronto, in the Province of Ontario, shall be the trustee under this proposal.

6. THAT at the meeting of the unsecured creditor, to be held to consider this proposal, the said creditors shall appoint up to two inspectors whose powers shall be to advise the trustee from time to time with respect to any matter that he trustee may refer to them.

DATED at the City of Toronto, in the Province of Ontario, this 10th day of December, 2006.

Signature of the Debtor

JOHN DEBTOR

an example of a STATEMENT OF AFFAIRS

IN THE ONTARIO SUPERIOUR COURT OF JUSTICE
IN BANKRUPCY

IN THE MATTER OF THE PROPOSAL OF JOHN DEBTOR, OF THE CITY OF TORONTO, IN THE PROVINCE OF ONTARIO

 

STATEMENT OF AFFAIRS

 

  1. ASSETS.

 

Type of Assets

 

Description

 

Claimed
Exempt

 

Estimated
Value

 

1. Cash (on hand, saving, chequing account)

 

Chequing Account

 

No

 

$1500

 

2. Furniture

 

Household Furniture

 

Yes

 

$4000

 

3. Personal Items

 

Clothes

 

Yes

 

$1200

 

4. Cash Value of Insurance Policies

 

Insurance policy

 

No

 

$1000

 

5. Stocks, Bonds and Investments

 

N/A

 

N/A

 

0

 

6. Real Property

 

N/A

 

N/A

 

0

 

7. Motorized Vehicle

 

Toyota Corolla, 1999

 

Yes

 

$3000

 

8. Other Assets

 

N/A

 

N/A

 

N/A

  1. STATEMENT OF LIABILITIES.

 

 

Creditor

 

Address

 

Amount of Debt

 

Secured/ Preferred/ Unsecured

 

1. William Creditor

 

1234 Street, Toronto, Ontario

 

$10,000

 

Unsecured

 

  1. PERSONAL DATA.

1. Name: John Debtor

2. Address: 123 Maple St., Toronto, Ontario

3. Marital Status: Single

4. Name of present employer: Unemployed

5. Name of spouse: N/A

6. Name of dependants: N/A

7. Have you been elf-employed in the last 5 years? No

8. Have you within last 12 months:

a) disposed or transferred any of your assets? No
b) made payments in excess of regular payment to a creditor? No
c) had any assets seized by any creditor? No

9. Have you within 5 years:

a) sold, disposed of or transferred any real estate? No
b) made any gifts to relatives or others in excess of $500? No

10. Have you made any arrangements to continue to pay any creditors? No

11. Budget Information

 

A. Income

 

 

B. Expenses

 

1. Net monthly take home pay

0

1. Cost of fixed expenses

600

2. Contributions of Dependents

0

2. Others

0

3. Other income

600

3. Payments required from income

0

 

TOTAL INCOME:

 

600

 

TOTAL EXPENSES:

 

600

12. Have you been a bankrupt before? No
15. If answers to 7, 8, 9 10, 12 are positive, please provide details.
Oath.
I, the undersigned make an oath and say that the above, to the best of my knowledge and belief, true and complete statement of all my property to every description, my creditor names and liabilities, and all pertinent information related to my affairs.

Sworn before me

JOHN COMMISSIONER

Signature of the Bankrupt
JOHN DEBTOR