Summary Administration: Canada Debt .ca defines Summary Administration

Bankruptcy Term Summary Administration

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Canada Debt has the definition to the bankruptcy and debt term Summary Administration. Finding answers to terms such as Summary Administration 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. Summary Administration in financial terms means...

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

Under the Bankruptcy and Insolvency Act a summary administration bankruptcy is a consumer bankruptcy defined as a bankruptcy where the free and clear assets are less than $10,000. Summary administration bankruptcies have stream lined procedures, making them less costly to administer.