Unpaid invoices, the loss of a key account, a fundamental shift in the business landscape…

Anything can become the speed bump that bounces your business into crippling debt.

Goldhar & Associates can help you restructure your business protected from harassment and legal action by creditors.

ken-and-rich-websiteLicensed Insolvency Trustees Richard Goldhar, B.Comm, CIRP, LIT and Kenneth Tessis, CA, CIRP, LIT have the experience to advise you and develop a strategy to restructure your business and shed the debt®.

Kenneth Tessis, formerly a partner at Soberman, has more than 35 years experience in assisting businesses of all sizes through corporate proposal or bankruptcy.

Richard Goldhar has assisted many small to mid-size businesses with debt settlement and restructuring strategies.

Richard and Ken are supported by a team of insolvency professionals who understand the imperatives of helping a business stay operational while restructuring to retire the debt.

Goldhar will protect the assets of the shareholders and directors as much as possible and preserve the key attributes of your business so you can shed the debt® and become viable again.

For sole proprietorships and partnerships:

The debts of a sole proprietorship or partnership are treated as the debts of the owner/partners, and are usually addressed through a consumer proposal or consumer bankruptcy, unless the unsecured debts total more than $250,000. In this event, a consumer proposal is no longer an option, but you may file a Division I proposal.


For small to mid-size corporations, including privately-held Canadian controlled corporations:

A Division I proposal is available to an insolvent corporation that owes any amount of unsecured debt, including income tax, HST and source deductions arrears to the Canada Revenue Agency. It is less drastic than a corporate bankruptcy, and permits the corporation to remain in business and restructure its operations to return to viability.

Corporate bankruptcy is the last resort for as business that has no hope of recovering and becoming viable again. This is a serious financial decision that will result in the liquidation of all recoverable assets and the permanent cessation of operations. Directors of the corporation may be held personally liable for certain debts of the corporation, including some tax debts.

Goldhar will review your situation in confidence and then suggest a strategy to restructure your business and protect you, the owner/shareholder/director.

Call Ken Tessis or Richard Goldhar today at 1-855-541-5114. Or fast dial #DEBT (#3328) on your mobile phone.