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Creditors’ Rights

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GFW’s Creditors' Rights lawyers have experience in assisting clients in navigating through issues relating to debt collection, security enforcement, mortgage remedies, and insolvency.

Whether it is mortgage enforcement or seeking a resolution pursuant to the terms of an agreement, our clients require that payments for goods or services rendered be received on a timely basis to ensure their continued financial viability.

As such, our Creditors' Rights lawyers assist in the collection of debts whether they arise from a promissory note, mortgage agreement, commercial account, personal debt, or court judgment. GFW’s Creditors' Rights lawyers can draw on a variety of possible remedies including garnishment, seizure of assets, injunctions, foreclosure proceedings, Power of Sale, judicial sales, and receiverships.

Financial challenges faced by some businesses may also result in unforeseen insolvency and restructuring proceedings. Our clients rely on our experience in planning and implementing restructuring plans or advising on the implications of the Personal Property Security Act, Bank Act, Bankruptcy and Insolvency Act, and the Repair and Storage Lien Act.

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Our lawyers can provide you with advice on:

Foreclosure proceedings
Debt collections
Power of sale proceedings
Judicial sale proceedings
Receivership law
Corporate restructuring
Priority issues
Garnishment
Mortgage enforcement

Comprehensive Creditor's Rights Services

At GFW, we understand that unpaid debts and financial defaults can significantly impact a business’s operations and profitability. Our experienced Creditors' Rights lawyers work diligently to help clients recover outstanding debts while protecting their legal rights and financial interests. We offer comprehensive services tailored to the unique circumstances of each case, ensuring that our clients receive the best possible outcome.

Garnishment and Asset Seizure

One of the most effective tools for debt recovery is garnishment, which allows creditors to collect debts directly from a debtor’s wages or bank accounts. Our team prepares and files garnishment applications, representing clients throughout the process to ensure proper enforcement. Additionally, we assist with the seizure of assets to satisfy outstanding debts, working closely with enforcement officers to recover funds efficiently.

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Debt Collection Strategies

Our Creditors' Rights team employs strategic debt collection methods that prioritize efficiency and cost-effectiveness. Whether through negotiation, demand letters, or litigation, we develop customized approaches to recover outstanding debts quickly and effectively. Our knowledge of Creditors' Rights laws allows us to navigate the legal landscape to maximize recoveries.

Mortgage Enforcement

When borrowers default on mortgage payments, prompt legal action is often required to protect the lender’s security interest. Our Creditors' Rights lawyers assist clients with mortgage enforcement proceedings, including Power of Sale, foreclosure actions, and judicial sales. We provide step-by-step guidance to ensure compliance with legal requirements and achieve the most favourable outcome for our clients.

Receivership and Corporate Restructuring

When businesses face financial difficulties, creditors may require the appointment of a receiver to manage the debtor’s assets and recover outstanding amounts. Our Creditors' Rights lawyers advise clients on all aspects of receivership law, including obtaining court-appointed receivers, managing the sale of assets, and negotiating settlements with debtors. We also assist with corporate restructuring plans to help businesses regain financial stability while preserving creditors' interests.

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Security Enforcement

Our team provides advice on enforcing security interests under the Personal Property Security Act (PPSA) and the Bank Act. We help clients realize on secured assets, including inventory, equipment, and accounts receivable, ensuring proper compliance with legal procedures. We also assist with the preparation and registration of security agreements to protect creditors' interests from the outset.

Insolvency and Bankruptcy Proceedings

When businesses or individuals are unable to meet their financial obligations, insolvency proceedings may be necessary to protect Creditors' Rights. Our lawyers guide clients through the complexities of bankruptcy and insolvency law, including filing claims, attending creditor meetings, and negotiating repayment plans. We also advise on the priority of claims and the distribution of proceeds under the Bankruptcy and Insolvency Act.

Advisory Services

In addition to legal representation, GFW provides proactive advisory services to help clients mitigate financial risks and avoid disputes. We offer guidance on credit policies, security documentation, and debt collection practices, helping clients implement strategies to protect their interests and improve cash flow.

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