Will There Be a Creditor’s Meeting if I File Bankruptcy in Canada?

When an individual files for bankruptcy in Canada, a question that often arises is: “Will there be a creditor’s meeting?” This article will delve into this matter, providing a detailed understanding of the processes and possibilities involved.

Understanding Bankruptcy in Canada

When you declare bankruptcy in Canada, there’s a formal process that begins. During this process, all your lenders are informed about your financial status, with an option to request a creditors’ meeting.

However, it’s important to note that not every bankruptcy claim leads to a creditors’ meeting. In fact, in many personal bankruptcy cases, there’s no creditors’ meeting at all.

When is a Creditors’ Meeting Called?

Two scenarios usually lead to the calling of a creditors’ meeting:

  • If the Official Receiver instructs the trustee to organize one, or
  • If creditors, who hold more than 25% of your outstanding debt, make a request.

The request can be made to the trustee anytime before the date you’re qualified to get your discharge from the bankruptcy. This ensures that you’re not left in a state of constant uncertainty about whether a meeting will be called or not.

Why is a Creditors’ Meeting Called Early?

If a meeting is to be convened, creditors usually prefer it to be in the early stages of the bankruptcy process. Why? There are several benefits to this:

  • It gives the creditors an opportunity to guide the trustee on how they want the bankruptcy process to be managed.
  • It allows the creditors to highlight any issues they want the trustee to address.

How Will I Know if a Creditors’ Meeting is Called?

In case a creditors’ meeting is called, the trustee will inform you about its time and location. Usually, this meeting takes place at the trustee’s office.

You should be prepared to attend this meeting, as it’s an opportunity for you to answer any queries or provide information that might resolve the creditors’ concerns.

Are Creditors’ Meetings Common in Personal Bankruptcy Cases?

Creditors’ meetings are not common in most personal bankruptcy cases. This is because creditors can often get their questions answered faster by contacting the trustee directly via phone or email, instead of waiting for an official meeting.

However, creditors’ meetings are somewhat more frequent in corporate bankruptcies. In such cases, there are usually more creditors involved and the issues surrounding the bankruptcy are typically more complex.

When Does a Creditors’ Meeting Take Place?

There are no hard-and-fast rules about when a creditors’ meeting should take place. However, it generally occurs before the bankrupt person’s discharge. In practice, if a creditors’ meeting is to happen, it will likely occur within the first few months of filing for bankruptcy. After all, there’s little point in waiting until the end of the process to convene a meeting.


So, “Will there be a creditors’ meeting if I file bankruptcy in Canada?” While the possibility exists, it’s not a given. In most personal bankruptcy cases, such meetings are not held. However, if a meeting is called, it will likely be in the early stages of the bankruptcy process and you will be informed in advance by the trustee.

Remember, bankruptcy is a complex legal process and it’s always advisable to seek the guidance of a professional to navigate it. Do not hesitate to reach out to legal experts who can provide you with the right advice and help you make informed decisions during this challenging time.

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