# Bankruptcy in Canada



## prodigy81 (5 Jun 2014)

Hi there,

I am just enquiring whether if you declare yourself bankrupt in Canada is it recognised in Ireland? For example, many Irish emigrants that left recently because of being able to sustain their Irish debts, could they petition for insolvency there??


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## prodigy81 (9 Jun 2014)

Well can anyone out there shed some light on this???


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## Jim Stafford (12 Jun 2014)

A Canadian bankruptcy would be recognised in Ireland.

 Jim Stafford


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## prodigy81 (14 Jun 2014)

Thanks for the reply, although can you elaborate a small bit? How is it recognised, I understand in the UK it is because of EU legislation but do not see how it is regarding Canada. It seems to me that the creditors could just reject a bankruptcy from any country outside the EU. Or is it that I have missed something? I look forward to your responses, thanks


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## Jim Stafford (19 Jun 2014)

The Canadian bankruptcy, if properly obtained, would be recognised in Ireland under established case law.

 The Canadian trustee could formally apply to the Irish Courts for an "Order in Aid" if he wished to deal with Irish property.  The Irish Court would grant such an "Order in Aid".

 Jim Stafford


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## Time (6 Jul 2014)

Very hard to get an Irish judgement when the debtor is overseas. Problems with good service and all that.


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## canadairish (6 Dec 2014)

*I'd really appreciate more information please*

Hi,

I'm living in Canada and am going through financial issues related to my unmanageable mortgage in Ireland also, and would really appreciate some information on how this process works.

Knowing little about the whole process, I'm clueless about what to do and how difficult it may be. Financially I own nothing but these things are so stressful when you don't know how much 'trouble' the bank can put you in...

FYI: I'm not sentimentally attached to the house but rather the thoughts of what the bank in Ireland can/can't do to me is worrying.

Thanks in advance.


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## Nonuance (9 Dec 2014)

If you are interested in going bankrupt in Canada please contact a local Bankruptcy Trustee. However, I believe that if you do apply for Bankruptcy in Canada - that your trustee will not discharge any of your debts based in Ireland. The trustee will only be in a position to discharge you from your Canadian debts. 

International agreements on Bankruptcy allow for a trustee from another jurisdiction to enter the Irish Courts as set out by previous  poster above. However, I understand that the policy operating in Canada through the Office of the Superintendent in Bankruptcy (OSB) is that Canadian Trustees may only discharge Canadian Debts and that a dual bankruptcy would be required in order to get Irish debts discharged.  

I would contact some trustees in your state in Canada on this point.


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## 44brendan (10 Dec 2014)

From my reading of this post it would appear that the OP has no debts in Canada & is considering bankruptcy there on the basis that an Irsh bank may take proceedings against him/her in respect of a mortgage shortfall on a property in Ireland. At face value this looks like a panic action to a problem that may never arise. I.e. there is no indication in the post of any legal action taken in Canada and unless the Bank have evidence of Canadian assets there are unlikely to take action there. However, information is sparse and OP would need to provide more detail if broader advice is needed!


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