GMGT 2060 Lecture 54: Lecture Notes All P 267

• School: University of Manitoba
• Department: General Management
• Course: GMGT 2060
• Professor: Alok Dua

Document Summary

1446: assignment: person voluntarily places self in bankruptcy. If the creditors put the individual in bankruptcy, they do so by petitioning the court for a receiving order. If proven bankrupt, then the orders are put in the hands of the trustee who will govern the assets and affairs. If one is to earn any income in that period they are to pay a certain percentage to the trustee. Recover settlements (gifts of gratuitous promises in the last year before bankruptcy) Looks at transfers in the last five years.