Business Owner & Director Advisory

Business owners carry risk that extends well beyond their equity in the company. Personal guarantees, CRA director liability for unpaid payroll remittances and GST, and provincial statutory obligations can follow an owner long after the business has closed. We work with business owners to understand the full picture of their exposure and develop a strategy to manage and resolve it.

Personal Guarantee Exposure Assessment and Strategy

Most business owners have signed personal guarantees in favour of lenders, landlords, or suppliers. When the business can no longer meet those obligations, the guarantee exposure becomes a personal problem. We assess the full scope of guarantee liabilities, evaluate available options, and develop a strategy — which may include negotiation, a formal insolvency filing, or both.

CRA Director Liability for Unpaid Payroll Remittances and GST

Directors of a corporation can be personally liable for unremitted payroll source deductions (income tax, CPP, and EI) and GST. CRA pursues these assessments aggressively, and the amounts can be significant. We help business owners understand their exposure, evaluate defences and due diligence arguments, and determine the most effective resolution path.

Provincial Statutory Liabilities (Employment Standards, WCB)

Beyond federal tax obligations, directors may face personal liability under Alberta employment standards legislation and Workers' Compensation Board assessments. We help business owners understand and quantify these obligations as part of a comprehensive liability assessment.

Coordination of Corporate and Personal Insolvency Proceedings

When both the business and the owner are in financial difficulty, the proceedings need to be coordinated carefully. Timing, sequencing, and strategy matter — a misstep in one can undermine the other. We manage the intersection of corporate and personal insolvency to achieve the best overall outcome.

Consumer Proposals for Business Owners

A Consumer Proposal is often the most effective tool for a business owner resolving personal liabilities that originated in the business — including guarantee debts and director assessments. We act as Proposal Trustee, structuring proposals that address the owner's full liability picture while preserving assets where possible.

Personal Bankruptcy for Business Owners

Where a Consumer Proposal is not viable or appropriate, personal bankruptcy may be the right path. We act as Licensed Insolvency Trustee and guide business owners through the process, with particular attention to the interaction between corporate obligations, director liability, and personal bankruptcy rules.

Asset Protection Planning and Exempt Property Analysis

Alberta's Civil Enforcement Act and other legislation provide certain exemptions that protect personal assets in an insolvency. We help business owners understand what is and isn't protected, and factor that into the overall resolution strategy.