SZK Secures Conditional Order for Bankruptcy Discharge, Acting for the Majority Creditors
Overview
In Re Naghshbandi, Sean Zeitz and Cora Madden successfully secured a conditional order of discharge on a contested bankruptcy discharge application, acting for the majority creditors in the estate.
The Court found the creditors established that the bankrupt’s assets were insufficient vis-à-vis his liabilities and that he failed to perform his bankruptcy duties, within the meaning of s. 173(1(a) and (o) of the BIA. These s. 173 BIA facts, coupled with the Court finding the Bankrupt had shown no willingness to obtain employment and contribute to the bankruptcy estate, resulted in an order for discharge on the condition of the bankrupt’s payment of $95,000 to the estate.
This decision provides a thorough summary of the legal principles governing bankruptcy discharges and serves as a useful reference for insolvency practitioners nationwide.
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A born litigator, Sean’s tenaciousness and relentless focus on solving complex legal issues have earned him the trust of clients, respect from the bench and even more than a few referrals from lawyers at competing firms.
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Cora employs an analytical and practical approach to solve complex legal issues and provide strategic advice to clients across a range of industries.
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