Glossary

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Licensed Insolvency Trustee

Definition:

A professional who is licensed by the Superintendent of Bankruptcy to administer proposals and bankruptcies and manage assets held in trust.
A "Licensed Insolvency Trustee" can help individuals or businesses get control of their debt by offering a variety of solutions including:
  1. Financial counselling
  2. Proposals to creditors
  3. Making an assignment in bankruptcy to discharge certain debts

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