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The Ontario Court of Appeal has ruled that, in the case of a "requirement to pay" under the Income Tax Act (Canada) that was issued after a notice of application to appoint a receiver (but before the court heard the application), supported by an ex parte "jeopardy order" issued by the Federal Court of Canada under s. 225.1(1) of that Act, [60 ...
In 2015, Payments Canada released a 5-year corporate strategic plan, [12] the core purpose of which was to underpin the Canadian financial system and economy by providing safe, efficient, and effective clearing and settlement of payments. Payments Canada identified three long-term desired outcomes that would lead the organization to attaining ...
In the Home District, 379 of 943 prisoners between 1833 and 1835 were being held for debt. [1] Over the province as a whole, 48% or 2304 of 4726 prisoners were being held in jail for debt in 1836. [2] The number of debtors jailed was the result of both widespread poverty, and the small amounts for which debtors could be indefinitely detained.
Federal lawyers are in compensation talks with the two men, who were detained in 2018, and are hoping to conclude financial settlements early in the new year, the media outlet said, adding that ...
For the purposes of the BIA, it is important to be able to distinguish between legal definition of "insolvent person" and one of "bankrupt".Generally, an insolvent person is one who cannot pay his or her debts and may subsequently become bankrupt, either by assigning himself into bankruptcy, being petitioned into bankruptcy by the creditors, or being deemed to assign himself into bankruptcy by ...
Debt relief existed in many societies of the Ancient Near East in the form of debt remission, whereby certain debts were declared void and the foreclosed property reverted to the original owners. Debts were often cancelled by a new ruler issuing a clean slate decree after assuming the throne or following a natural or man-made calamity.
At the time this settlement was announced in 2014, it was the largest federal settlement with a single company in U.S. history. Bank of America agreed to pay more than $16 billion to resolve ...
This is a common practice in the country. Banks are not sympathetic to the debtors once they are in prison, so many just choose to leave the country where they can negotiate for settlements later. The practice of fleeing UAE to avoid arrest because of debt defaults is considered a viable option to customers who are unable to meet their obligations.