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Old 02-28-2011, 12:06 PM
Wishfull Wishfull is offline
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Default Company Business

"Does the ex have the right and the court have the right to hold company money so it can not continue in the business?" This is the case in Alberta. Sold the building due to high debts owning after become very ill. Had to sell. There was no shares owing to company. Bills were paid out by lawyers to those that had lien es on the building. The rest of the money went into trust. This left the company broke. Unable to function to carry on the business. The court gave $90,000 to Ex and the company got the same to pay out rest of the bills. The company has 5 year lease and money still in trust. Employees were laided off and I have no income resulting in this action. I did not sell the company, just the building that we were in. Anyone else heard of this type of action. Been separated for 5 years when this happen.
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Old 02-28-2011, 06:10 PM
Wishfull Wishfull is offline
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Follow Up.
I wish to add to what is happening for those that might be interested. I check with two well known accountants with this situation. They said that the lawyers and the court have no rights to handle the company money. The ex is not share holder and even if she was you can not disperse funds from the company without some CRA implications. I now in the process of filing complaint with the Alberta Law Society in this matter. Waiting for answer. I will follow up. If you wish to comment please do.
Thanks
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Old 02-28-2011, 07:26 PM
CycleDad CycleDad is offline
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It is always useful when follow-ups are posted.

thank you!
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Old 02-28-2011, 07:41 PM
Wishfull Wishfull is offline
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Must fill out compliant form from Law Society. They will look into it but it will only result in disciplinary only and it will not result in compensation. If you have any fees disputes then you file with the taxation department of the Queen Bench. Not sure were this is going yet.
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