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	<title>GrossmanCGA - How can I help?bankruptcy | GrossmanCGA &#8211; How can I help?</title>
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	<link>http://grossmancga.com/site</link>
	<description>Independent advice in your best interest</description>
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		<title>Canadian asset performance &#8211; a relative story</title>
		<link>http://grossmancga.com/site/2011/02/08/canadian-asset-performance-a-relative-story/</link>
		<comments>http://grossmancga.com/site/2011/02/08/canadian-asset-performance-a-relative-story/#comments</comments>
		<pubDate>Tue, 08 Feb 2011 15:28:21 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Canadian Commercial Lenders]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[bubbles]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[finance]]></category>
		<category><![CDATA[insolvency]]></category>
		<category><![CDATA[lender]]></category>
		<category><![CDATA[securitization]]></category>
		<category><![CDATA[trend]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1521</guid>
		<description><![CDATA[by Mark McElheran of Stikeman Elliott LLP It remains to be seen whether the reform fever that is presently sweeping through the US securitization market will continue unabated across the 49th parallel but there is no question that these monumental reforms have given rise to a considerable amount of discussion and debate over the appropriateness...]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Dividends and Accountants&#8217; Risks</title>
		<link>http://grossmancga.com/site/2010/12/22/dividends-and-accountants-risks/</link>
		<comments>http://grossmancga.com/site/2010/12/22/dividends-and-accountants-risks/#comments</comments>
		<pubDate>Wed, 22 Dec 2010 15:19:14 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[CGA]]></category>
		<category><![CDATA[corporation]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[dividend]]></category>
		<category><![CDATA[guides]]></category>
		<category><![CDATA[hardship]]></category>
		<category><![CDATA[insolvency]]></category>
		<category><![CDATA[shareholder]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1471</guid>
		<description><![CDATA[A recent discussion with colleagues revealed that many are unaware of the issues that may arise when advising clients whether to declare corporate dividends, including in the case where there exist negative retained earnings. From the viewpoint of an insolvency practitioner, the picture is quite clear. A trustee of a bankrupt corporation is permitted to make...]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Another Corporate Director/Lender Must Pay</title>
		<link>http://grossmancga.com/site/2010/10/18/another-corporate-director-must-pay/</link>
		<comments>http://grossmancga.com/site/2010/10/18/another-corporate-director-must-pay/#comments</comments>
		<pubDate>Mon, 18 Oct 2010 14:23:42 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[Canadian Commercial Lenders]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[corporation]]></category>
		<category><![CDATA[court]]></category>
		<category><![CDATA[CRA]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[insolvency]]></category>
		<category><![CDATA[lender]]></category>
		<category><![CDATA[liability]]></category>
		<category><![CDATA[tax]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1282</guid>
		<description><![CDATA[On October 6, 2010, in Seier v. The Queen, the Tax Court of Canada provided us with one more example of a lender and corporate director who must pay the GST and payroll withholdings arrears of a failed business. In this case, a lender, by realizing on his security, becomes the sole director and shareholder of the borrower...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/10/18/another-corporate-director-must-pay/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>PPSA Haircuts &#8211; Part 1: A Spelling Error</title>
		<link>http://grossmancga.com/site/2010/09/21/ppsa-haircuts-part-1-a-spelling-error/</link>
		<comments>http://grossmancga.com/site/2010/09/21/ppsa-haircuts-part-1-a-spelling-error/#comments</comments>
		<pubDate>Tue, 21 Sep 2010 20:11:03 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Canadian Commercial Lenders]]></category>
		<category><![CDATA[bank]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[corporation]]></category>
		<category><![CDATA[court]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[lender]]></category>
		<category><![CDATA[Ontario]]></category>
		<category><![CDATA[PPSA]]></category>
		<category><![CDATA[securitization]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1224</guid>
		<description><![CDATA[In Fairbanx Corp. v. Royal Bank of Canada, the Ontario Court of Appeal considered a contest between two registrations under the Personal Property Security Act (Ontario) (&#8220;PPSA&#8220;): a registration made by Fairbanx to perfect its purchase of accounts receivable from the bankrupt debtor and a registration made by Royal Bank of Canada (RBC) in respect...]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The Decline: The Geography of a Recession by LaToya Egwuekwe</title>
		<link>http://grossmancga.com/site/2010/08/05/the-decline-the-geography-of-a-recession-by-latoya-egwuekwe/</link>
		<comments>http://grossmancga.com/site/2010/08/05/the-decline-the-geography-of-a-recession-by-latoya-egwuekwe/#comments</comments>
		<pubDate>Thu, 05 Aug 2010 15:47:54 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Statistics]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[trend]]></category>
		<category><![CDATA[unemployment]]></category>
		<category><![CDATA[United States]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1188</guid>
		<description><![CDATA[]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/08/05/the-decline-the-geography-of-a-recession-by-latoya-egwuekwe/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Forgive us our Debts as We Forgive our Debtors &#8211; Bankruptcy and the Bible</title>
		<link>http://grossmancga.com/site/2010/08/05/forgive-us-our-debts-as-we-forgive-our-debtors-bankruptcy-and-the-bible/</link>
		<comments>http://grossmancga.com/site/2010/08/05/forgive-us-our-debts-as-we-forgive-our-debtors-bankruptcy-and-the-bible/#comments</comments>
		<pubDate>Thu, 05 Aug 2010 15:38:58 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Forgiveness]]></category>
		<category><![CDATA[Forgiveness of Debt]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[bible]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[discharge]]></category>
		<category><![CDATA[forgive]]></category>
		<category><![CDATA[hardship]]></category>
		<category><![CDATA[insolvency]]></category>
		<category><![CDATA[lender]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=1183</guid>
		<description><![CDATA[By O. Max Gardner III Originally published at: http://bit.ly/cceEC6 Dalton Camp proclaimed [Ed.: in Canada's defunct Saturday Night Magazine] several years ago that “having lost its value, money may no longer be the root of all evil; credit having taken its place.” This statement demonstrates the paradox of modern day Christianity and debt—should the Christian reaction...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/08/05/forgive-us-our-debts-as-we-forgive-our-debtors-bankruptcy-and-the-bible/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>The 2010 Superintendent&#8217;s Standards for Surplus Income are here!</title>
		<link>http://grossmancga.com/site/2010/03/11/the-2010-superintendents-standards-for-surplus-income-are-here/</link>
		<comments>http://grossmancga.com/site/2010/03/11/the-2010-superintendents-standards-for-surplus-income-are-here/#comments</comments>
		<pubDate>Thu, 11 Mar 2010 20:54:55 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[Bankruptcy and insolvency rules]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[discharge]]></category>
		<category><![CDATA[surplus income]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=874</guid>
		<description><![CDATA[I have now posted the newly released Superintendent&#8217;s Standards for surplus income for 2010. I have also updated the Sample Surplus Income Calculation. The Superintendent’s standards  are derived from the Low Income Cutoffs (LICO) released by Statistics Canada. The Superintendent of Bankruptcy uses the before-tax LICO for urban areas with 500 000 people or more.The 2010...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/03/11/the-2010-superintendents-standards-for-surplus-income-are-here/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>New Sample Calculation of Surplus Income</title>
		<link>http://grossmancga.com/site/2010/02/11/752/</link>
		<comments>http://grossmancga.com/site/2010/02/11/752/#comments</comments>
		<pubDate>Thu, 11 Feb 2010 18:33:38 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Bankruptcy and insolvency rules]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[surplus income]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=752</guid>
		<description><![CDATA[The most frequent question asked on this site is, “How much is my surplus income requirement?” (Surplus income is the amount of monthly income that a bankrupt must share with his creditors during the period of bankruptcy.) I have now provided a sample calculation of surplus income, with a downloadable spreadsheet that can be modified for specific...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/02/11/752/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>David Cohen on Distressed M&amp;A Today</title>
		<link>http://grossmancga.com/site/2010/01/28/david-cohen-on-distressed-ma-today/</link>
		<comments>http://grossmancga.com/site/2010/01/28/david-cohen-on-distressed-ma-today/#comments</comments>
		<pubDate>Thu, 28 Jan 2010 16:24:20 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[Economics]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[trend]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=525</guid>
		<description><![CDATA[Here is a great video and article from my friend David Cohen of Gowlings on what&#8217;s happening today in Canadian businesses: http://bit.ly/DavidCohenOnDistressedMandA David leaves open the question whether we will see a quick or slow recovery from here, but he does provide intelligent guesses about what would happen in each case. Do you have an opinion about...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2010/01/28/david-cohen-on-distressed-ma-today/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>American women and bankruptcy</title>
		<link>http://grossmancga.com/site/2009/12/18/american-women-and-bankruptcy/</link>
		<comments>http://grossmancga.com/site/2009/12/18/american-women-and-bankruptcy/#comments</comments>
		<pubDate>Fri, 18 Dec 2009 15:40:31 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Forgiveness]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[hardship]]></category>
		<category><![CDATA[sexism]]></category>
		<category><![CDATA[women]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=480</guid>
		<description><![CDATA[&#8220;Based on projected figures, more than a million [American] women will find their way to the bankruptcy courts this year &#8211; more women than will graduate from college, receive a diagnosis of cancer, or file for divorce.&#8221; As if our sexist world didn&#8217;t make it difficult enough for women, read how American women (and this...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/12/18/american-women-and-bankruptcy/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Ashes to ashes, dust to bust</title>
		<link>http://grossmancga.com/site/2009/12/18/ashes-to-ashes-dust-to-bust/</link>
		<comments>http://grossmancga.com/site/2009/12/18/ashes-to-ashes-dust-to-bust/#comments</comments>
		<pubDate>Fri, 18 Dec 2009 15:26:13 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Oddities]]></category>
		<category><![CDATA[bankruptcy]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=474</guid>
		<description><![CDATA[As a bankruptcy trustee, you never know what you will find when you go into a failed business: http://bit.ly/Cremation]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/12/18/ashes-to-ashes-dust-to-bust/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Shakira: I Made It Because of Bankruptcy</title>
		<link>http://grossmancga.com/site/2009/12/16/shakira-i-made-it-because-of-bankruptcy/</link>
		<comments>http://grossmancga.com/site/2009/12/16/shakira-i-made-it-because-of-bankruptcy/#comments</comments>
		<pubDate>Wed, 16 Dec 2009 14:52:10 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Forgiveness]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[benefit]]></category>
		<category><![CDATA[budget]]></category>
		<category><![CDATA[proposal]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=466</guid>
		<description><![CDATA[In a recent report from CNNWorld, Columbian-born pop singer Shakira declares that her family’s bankruptcy when she was a child motivated her to become the successful, world-famous pop star she is today. In addition to having recorded record-breaking number of worldwide hits and a wildly successful career as a musical entertainer, Shakira founded the Barefoot...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/12/16/shakira-i-made-it-because-of-bankruptcy/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Why tax season 2010 will be COD only</title>
		<link>http://grossmancga.com/site/2009/11/30/why-tax-season-2010-will-be-cod-only/</link>
		<comments>http://grossmancga.com/site/2009/11/30/why-tax-season-2010-will-be-cod-only/#comments</comments>
		<pubDate>Mon, 30 Nov 2009 15:29:23 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Statistics]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[graph]]></category>
		<category><![CDATA[Ontario]]></category>
		<category><![CDATA[proposal]]></category>
		<category><![CDATA[trend]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=406</guid>
		<description><![CDATA[Another 18,000 Ontarians made an insolvency filing in the third quarter of 2009, bringing the total to 51,000 for the year so far. This means that about 1 in every 200 Ontario adults filed a proposal or made an assignment in bankruptcy in just three-quarters of 2009. If you want to see the results in graphical form, they can...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/11/30/why-tax-season-2010-will-be-cod-only/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Your firm&#8217;s guide to dealing with consumer debt</title>
		<link>http://grossmancga.com/site/2009/11/02/your-firms-guide-to-dealing-with-consumer-debt/</link>
		<comments>http://grossmancga.com/site/2009/11/02/your-firms-guide-to-dealing-with-consumer-debt/#comments</comments>
		<pubDate>Mon, 02 Nov 2009 19:52:23 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[consolidation]]></category>
		<category><![CDATA[discharge]]></category>
		<category><![CDATA[guides]]></category>
		<category><![CDATA[liability]]></category>
		<category><![CDATA[proposal]]></category>
		<category><![CDATA[surplus income]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=344</guid>
		<description><![CDATA[We have published our version of the booklet, Dealing with Debt &#8211; A Consumer&#8217;s Guide, originally published by the Office of the Superintendent of Bankrupty, Industry Canada.  We have also made available a Word version of the booklet that is suitable for customization by your firm for use with clients who face insolvency. If you...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/11/02/your-firms-guide-to-dealing-with-consumer-debt/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Avoiding Bankruptcy</title>
		<link>http://grossmancga.com/site/2009/10/08/avoiding-bankruptcy/</link>
		<comments>http://grossmancga.com/site/2009/10/08/avoiding-bankruptcy/#comments</comments>
		<pubDate>Thu, 08 Oct 2009 17:55:35 +0000</pubDate>
		<dc:creator>Eric Grossman, CGA</dc:creator>
				<category><![CDATA[Advisors' guides]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[budget]]></category>
		<category><![CDATA[consolidation]]></category>
		<category><![CDATA[director]]></category>
		<category><![CDATA[proposal]]></category>

		<guid isPermaLink="false">http://grossmancga.com/site/?p=275</guid>
		<description><![CDATA[Individuals who are undischarged bankrupts cannot be directors of Ontario corporations.  For this and other reasons, many clients wish to avoid a bankruptcy filing. Several practitioners have contacted me to find methods of avoiding bankruptcy, so today I will provide a simple outline of your clients&#8217; choices.  Although I will be considering individuals, the story...]]></description>
		<wfw:commentRss>http://grossmancga.com/site/2009/10/08/avoiding-bankruptcy/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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