Bankruptcy and Corporate Insolvency Lawyers Ontario
Over 50 years experience in providing practical legal advice from people who care.
- Civil Litigation and disputes
- Commercial agreements
- Business and Commercial advice
- Ross & Lambert offer fixed price services for drafting commercial agreements (conditions apply)
We can help you with a range of bankruptcy and corporate insolvency services.
If you’re looking for a commercial lawyer, please get in touch with us today.
Contact an Expert
Please contact us below and let us know what you would like from your legal firm.
Customer Reviews
“Ross & Lambert and Nick McCabe have been my solicitors for over 20 years. As a conveyancer of some 38 years and sole practitioner I work with many lawyers. Randle &Taylor have always provided me with good advice and strong representation when required still caring for me as an individual and additionally to clients I have referred for assistance. I would trust Ross & Lambert in all matters to look after me and my family and I highly recommend them and their services.”
T White, Conveyancer
“As a Chartered Accountant and Liquidator I have engaged the services of Ross & Lambert on many different types of commercial and personal matters for over thirty years. I found them to be always knowledgeable, competent and professional. They will take the time to explain complex matters to you and resolve complex matter efficiently. I have also used the services of Edward as a mediator. He is a very skilful mediator whose unique set of skills have resulted in successful outcomes for both parties. I would strongly recommend Ross & Lambert for any business or personal matter.”
AC Matthews, Chartered Accountant and Liquidator
“Ross & Lambert have acted for me for a number of years. I have always found them to be professional and knowledgeable and they have provided me with legal advice which is commercial and in my best interest. I have always found their staff to be friendly and will continue to engage their services in the future.”
P Agostinelli, Business Owner
Our office is conveniently located in Ontario:507 Yonge St, Toronto, ON M4Y 1Y3 Canada. (view in Google Maps).
For When Experience Counts
Bankruptcy Lawyers Toronto
Ross & Lambert Partners LLP are a leading corporate and commercial law firm based in Toronto. We have proudly served Canada since 1970 and pride ourselves on a strong, practical approach to solving a range of bankruptcy and corporate insolvency issues.
Whether we are acting for a company, director, individual or creditor, our expert legal team can assist you with a range of insolvency and bankruptcy matters.
Contact us today for a no obligation initial 15 minute consultation with one of our bankruptcy and insolvency lawyers.
Proudly serving Toronto since 1970
Bankruptcy and Insolvency: Our Experience
Coming soon.
Why Choose Us?
Ross & Lambert ’s expertise and experience allows us to offer you the following:
- Fixed fees for certain services.
- No win no fee (conditions apply).
- Payment of our fees on the completion of your matter (conditions apply).
- Urgent advice (conditions apply).
- An initial 15 minute consultation is free with no obligation.
Bankruptcy and Insolvency FAQs
What happens when a company files insolvency?
When a company files insolvency, that means it is unable to pay its debts when they are due. Depending on the circumstances, the three most common things that happen are: the company is placed into voluntary administration, the company and its assets are liquidated, and/or the company is placed into receivership.
Subsequently, insolvency notices are placed in newspapers or published on the ASIC’s insolvency notices website.
Find out more about your rights as an employee when your employer goes into external administration.
Find out more about your rights as an investor or shareholder here.
Can you trade while insolvent?
No, you can not trade while insolvent. Doing so may incur serious penalties. If you have concerns about insolvency, including your rights and responsibilities as a director, you should consult a registered liquidator, insolvency accountant or insolvency lawyer.
Does bankruptcy clear all debts?
In short, no. Bankruptcy does not clear all debts.
Debts that remain can include:
- Court-ordered fines and penalties
- Student loans (HECS, HELP, SFSS)
- New debt incurred after filing for bankruptcy
- Child support and maintenance payments.
What assets are protected in bankruptcy in Canada?
For individuals in Canada, bankruptcy allows you to keep most ordinary household items, which can include furniture, TVs, computers, and appliances. Depending on their value, you may also be able to keep your car, and the tools you use to earn a living.
For companies, insolvency generally means that all assets of the company can be sold. This includes property, vehicles, stock and even fixtures and fittings inside the business premises. Other company assets that can be sold include non-tangible assets such as the company website, patents, trade marks and other intellectual property. These funds can then be used to pay off as many creditors as possible.
There may be options to increase the likelihood that the company will survive, which include a debt-restructuring process or simplified liquidation processes.
What is a personal insolvency agreement?
A personal insolvency agreement (PIA) is an agreement that allows you to pay off your debt in a way that takes into account your circumstances and current financial situation.
You may pay more under a PIA compared to declaring bankruptcy. If you have a question or a problem that you need to solve, it is best to seek legal advice from a lawyer.
What other services do you offer?
Ross & Lambert Partners LLP provide legal advice in a variety of areas including family law, sales of business, building and construction law, drafting agreements, wills and estates, debt collection, property law, residential leases and commercial litigation.
Our fees are competitive with other firms in Toronto
Bankruptcy and Insolvency Lawyers Ontario
The commercial litigation team at Ross & Lambert Partners LLP is here to help. We have a deep understanding of the obligations and rights of both creditors and debtors, and are driven to obtaining the best possible outcome.
Please get in touch with us today via phone or the contact form on this page.
