Claw Back: Canada Debt .ca defines Claw Back

Bankruptcy Term Claw Back

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Canada Debt has the definition to the bankruptcy and debt term Claw Back. Finding answers to terms such as Claw Back can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Claw Back in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Claw Back' is used as follows:

The cancellation of an action. For example, a one year claw back will be in effect for RRSPs in provinces without RRSP exemption laws. In other words, RRSP contributions made in the 12 months prior to bankruptcy (in those provinces) will be taken into the bankruptcy estate.