Financial Restructuring and Bankruptcy – What a Professional Needs to Know to Assist their Clients in Financial Difficulty, Recorded March 16, 2021

Format: Recorded Webinar
Product ID: 000000000010096611
Bankruptcy is a word that nobody likes, yet few practitioners have been able to avoid experiencing some aspect of it through their clients.

Start date: January 1, 2022 - End date: December 31, 2022

Bankruptcy is a word that nobody likes, yet few practitioners have been able to avoid experiencing some aspect of it through their clients. And it is a word being used much more regularly in these post-pandemic times. While practitioners should not expect to navigate a client through a bankruptcy, it is important for them to have a basic understanding of the rules and consequences in order for them to support and assist clients in going through these difficult times. Practitioners should also be aware of the alternative options available to individuals and businesses in financial trouble which don’t involve a bankruptcy.

Join Tom McElroy of Albert Gelman Inc. for an introductory overview and analysis of the important aspects of financial restructurings and bankruptcy that professionals should be aware of, in order to better serve their clients. Note that this webinar will not explore the tax implications and results of bankruptcy and insolvency, beyond merely highlighting where there are situations where tax expertise should be obtained. It will provide participants with a basic understanding of the general legal implications of bankruptcy and insolvency, and what alternatives and obligations might exist from a business/personal perspective.

More specifically, topics discussed will include:

  • How to assist individuals in financial difficulty;
  • How to assist businesses in financial difficulty;
  • Remedies available to creditors to collect amounts owing; and
  • Wealth preservation techniques for individuals and business owners;

Target Audience

This webinar will be of most interest to tax practitioners, accountants in small to medium sized firms, financial planners/advisors and lawyers (general, corporate, tax, estate, commercial, or real estate).

Professional Development Credits

Wolters Kluwer Canadian professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.

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This webinar is being presented by Tom McElroy, CPA, CA, CBV, CIRP, Licensed Insolvency Trustee, of Albert Gelman Inc.:

Tom McElroy

Tom’s practice focuses on providing businesses and individuals with solutions to help them restructure their financial affairs when they are having trouble meeting their financial obligations. Tom has more than 12 years of experience assisting owner-managed businesses of all sizes across a broad spectrum of the Canadian economy.

More Information
Contributors Tom McElroy
Format Recorded Webinar
Library Tax
Subject Area Accounting, Audit & Finance
Tom McElroy
Licensed Insolvency Trustee CIRP CBV CPA CA

Tom has more than 12 years of experience providing professional financial advisory services.  He regularly acts in a formal capacity as Proposal Trustee, Receiver, Monitor, Liquidator and Trustee. Informally he is often engaged to consult with various stakeholders affected by distressed debt situations including small and medium sized businesses and their owners, secured and unsecured creditors, shareholders, directors and their professional advisors.

Tom is a Chartered Professional Accountant (CPA), Chartered Accountant (CA), Chartered Business Valuator (CBV), Chartered Insolvency and Restructuring Professional (CIRP) and federally Licensed Insolvency Trustee (LIT).

Tom speaks regularly to all types of professionals on insolvency and restructuring related matters.  Tom has presented on behalf of CCH Wolters Kluwer, CPA Canada, the Canadian Institute of Chartered Business Valuators (CICBV) as well as several local CPA chapters.  Tom has provided authoritative commentary on insolvency related matters in Discussion and Analysis as published by CPA Canada.