RE:RE:the Chris Simon of the forestry industry....You have to be insolvent to file an assignment in bankruptcy.
Insolvent is defined by tha
Bankruptcy and Insolvency Act as an entity:
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(a) who is for any reason unable to meet his obligations as they generally become due,
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(b) who has ceased paying his current obligations in the ordinary course of business as they generally become due, or
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(c) the aggregate of whose property is not, at a fair valuation, sufficient, or, if disposed of at a fairly conducted sale under legal process, would not be sufficient to enable payment of all his obligations, due and accruing due; (personne insolvable)
Bring on the CCAA bankruptcy protection....