Creditor Protection and Recovery
Sharek & Co. is exceptionally experienced in the protection of creditors’ rights oftentimes restricted by law. Our competent lawyers provide knowledgeable, professional advice on the scope of recovery and other alternative remedies available to a creditor against debtor(s).
Receiverships
A receiver or receiver-manager is a person appointed to take possession or control of assets, such as inventory, the accounts receivable or other property of a debtor, as security on behalf of a secured party or creditor. Our firm generally acts on behalf of lenders and other creditors to ensure the appointment of an appropriate receiver either through private/instrument process or by court order. The services that we provide in this area extend to advising receivers on what their legal duties, responsibilities and liabilities are under the provisions of applicable laws.
Bankruptcies
A ‘bankrupt’ is a person or legal entity who has made as assignment or against whom a receiving order has been made. The legal status of a ‘bankrupt’ is different from that of an ‘insolvent.’ An ‘insolvent’ broadly refers to a person who is not a bankrupt but is for any reason unable to meet his obligations as they generally become due.
The business services offered by Sharek&Co. cover professional advice that relate to the practical interpretation of the Bankruptcy and Insolvency Act. We ensure that the overwhelming details of this statute, made more so in times of distress for the concerned party, are simplified for our clients to fully understand the advantage of a positive decision-making process.
Our firm is able to efficiently advise on the legal scheme of distribution for preferred, secured and unsecured creditors as it relates to claims for taxes, wages and entitlements, employment insurance, Canada Pension Plan contributions, etc.
Collections
Our firm is highly experienced in this technical area of the law. There is no doubt that a good understanding of the legal principles that provide for creditors’ rights as well as debtors’ rights is essential to an accurate interpretation and analysis of the rights of parties involved in this branch of law. Our specialized lawyers are able to apply their skills and experience to the advantage of our clients. At Sharek&Co., we are able to assist creditors seize assets where required and guide debtors through the maze of available exemptions that they are entitled to under the relevant laws.
Builders’ Liens
Builders’ Liens are created in favour of a person who has worked on or in respect of an improvement to real property. They are equally available for the benefit of a person who has supplied any material to be used on or in respect of any improvement to real property
Our firm is able to comprehensively advise our clients on the scope of the law governing liens generally. We are experienced in identifying with clarity the legal nature of competing priorities and the relationship between the Builders’ Lien Act and other related statutes that govern mortgages, bankruptcies, receiverships and securities.
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