Bullboard - Stock Discussion Forum Lightstream Resources Ltd. LSTMF

Energy Oil & Gas E&P

"Lightstream Resources Ltd is engaged in the exploration and development of oil and natural gas in Western Canada. Its operating areas include Southeastern Saskatchewan, Central Alberta, and North-Central Alberta."

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Lightstream Resources Ltd. > CRA can go after the directors

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Post by lightscam on Apr 18, 2017 11:01am

CRA can go after the directors

Canada Revenue Agency can go after the directors of lightstream. Its easy since lightsream owed cra money and lightstream went banktupt so didn't pay. The directors can be responsible for up to two years and if cra can prove they are responsible then you can easily prove that they were responsible for lighstream bankrupy too.

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Comment by Oldfart74 on Apr 20, 2017 8:12pm

I suggest you do further research. The directors are only responsible for unpaid employee tax deductions and unpaid GST. They are not liable for unpaid corporate income tax. In view of Lightstream's losses, likely no corporate taxes owing. The directors would have made sure that the employee deductions and GST were all paid. I'm looking forward to legal proceedings ...more

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