Division 1 Proposal is a Debt Remedy and is an alternative to Bankruptcy.

This form of debt remedy is regulated by Division I, Part 3 of the Bankruptcy & Insolvency Act. It is very similar in nature to a Consumer Proposal in that it is a protective tool to regulate cash-flow in an advantageous manner. This form of Proposal is reserved for operating entities like a corporation or individuals with unsecured debt in excess of $250,000.00. Division I Proposals are much more complicated than Consumer Proposals and are largely regulated by Court applications in addition to the structure, rules, and regulations imposed by the Bankruptcy & Insolvency Act. Due to the procedural complexities involved in a Division I Proposal should you feel this remedy may be appropriate to your situation we strongly urge you to contact our office and speak to Jeff directly.