Corporate Debt Solutions
At Crowe MacKay & Company, we understand that dealing with debt can be an extremely stressful experience. With over 60 years of experience, we are committed to providing honest and objective advice during difficult times.
Businesses facing financial difficulties need to recognize their problems and explore their options. Drawing on our significant industry and sector knowledge, we are committed to providing our clients with creative, practical, and objective advice to resolve their financial difficulties.
How Can We Help You?
We have assisted financial institutions, creditors, businesses and lawyers in many aspects of insolvency, restructuring and litigation support. With the expertise to support you, some of the roles we have fulfilled for our clients include:
Consultant in business reviews or ‘looksees’
Consultant in informal workouts
Trustee in bankruptcy
Monitor pursuant to the Companies’ Creditors Arrangement Act (CCAA)
Trustee in proposals under the Bankruptcy and Insolvency Act (BIA)
Receiver and Receiver-Manager
Forensic accountant or expert witness in litigation support matters
When facing financial difficulties, we recognize the importance of objective and professional advice. We tell our clients what they need to know instead of what we believe they want to hear.
Dangers of Business Debt
Business debt can prove to be dangerous for your organization. While addressing financial uncertainties can be uncomfortable, not taking action can lead to consequences, including:
Creditors can take legal action against your business, which can further lead to legal judgment, fees, and penalties.
You may accumulate more debts and interest, compounding the situation.
The CRA can freeze your bank accounts and seize the funds on the charge of penalties and unpaid interest and taxes.
The bank can appoint a Receiver to seize your assets and completely shut down the business.
Leasing companies can also seize all your company’s assets in lieu of their payments.
For any questions on corporate debt solutions and to discuss your options, call us or complete the form below. We look forward to speaking with you.
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