Notice of Intention to File a Proposal: Canada Debt .ca defines Notice of Intention to File a Proposal

Bankruptcy Term Notice of Intention to File a Proposal

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Canada Debt has the definition to the bankruptcy and debt term Notice of Intention to File a Proposal. Finding answers to terms such as Notice of Intention to File a Proposal 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. Notice of Intention to File a Proposal in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Notice of Intention to File a Proposal' is used as follows:

A legal document filed with the Official Receiver stating that the debtor intends to file a proposal. The document is to include the name and address of the licensed trustee who has consented in writing to act as the trustee under the proposal and the names of the creditors who are owed $250 or more and the amounts of their claims. The filing of this document triggers the protection afforded to insolvent debtors under the Bankruptcy and Insolvency Act.