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Trusted Creditor Proposal Services in Greater Vancouver


We have assisted numerous companies in executing successful Creditor Proposals in Vancouver, and would be pleased to meet with you to see if this could be a viable option for you.


What Is the Process?

Once a Division I Proposal is filed, we are required to call a meeting of creditors within 21 days from the date of the Proposal. We will prepare a report to your creditors that includes the causes of your financial situation and our recommendation with respect to supporting the terms of your Proposal.

Creditors can attend the meeting either in person or by proxy.

During the meeting, the creditors have the ability to ask questions and recommend changes to the terms of the Proposal.

Creditors can vote to either accept or reject the Proposal; should the Proposal be approved by the creditors, the Trustee must obtain Court approval.

If the Proposal is rejected, the debtor is immediately deemed bankrupt.

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Why Hire an Insolvency Trustee To Help With Your Creditor Proposal?

Establishing and operating a business is not an easy task, and our team of experts will help you get through the financial hurdles without any hassles. If your business is struggling and you’re looking for help, a creditor proposal could be the solution you need.


Creditor proposals are a great way to get out of debt and stay that way for the foreseeable future. Working with an insolvency trustee who understands the legalities of the Proposal can make the process more efficient and stress-free. Campbell Saunders Ltd. can assist you with corporate creditor proposals in Greater Vancouver and provide detailed and structured advice for effective debt management.


Division I Proposal (Formal Restructuring)

A Division I Proposal is a formal insolvency proceeding under the BIA to repay what they owe over time. It’s a formalized legal process overseen by an insolvency trustee and used to help get out of debt.

The debtor remains in control of his business while formulating a restructuring plan that could ultimately turn the company to financial stability.


Perhaps you have just weathered a prolonged slow period and are forecasting increased sales and profitability, maybe you have an underperforming business unit or retail store(s), or when considering scaling back operations, you have identified a large potential employee severance obligation. These are all valid reasons to consider a formal restructuring.


An insolvent business can file a Proposal or a Notice of Intention to Make a Proposal under the BIA, either of which will provide your company with an absolute Stay of Proceedings from all of your creditors, including:

  • Your bank and other secured lenders
  • Canada Revenue Agency
  • Your landlord
  • Any other creditor/supplier


If you begin by filing a Notice of Intention to Make a Proposal, the Stay of Proceedings will give you a minimum of 30 days to formulate a plan and present a Proposal to your creditors. The period can be extended by applying to the Court for a further 45-day extension to a maximum of 6 months to file the Proposal. The purpose of the Stay of Proceedings is to give management the “breathing” room needed to develop a proposal to restructure the business without the threat of garnishments or other legal proceedings.


A Proposal can take any number of forms, including:

  • A lump-sum payment, often provided by a third party
  • Payments to creditors over an extended period (i.e. 3 to 5 years or more)
  • Liquidation of all or part of your business, or the liquidation of certain assets
  • Conversion of debt to equity

The company’s creditors must accept creditor Proposal to be binding on all creditors, including those who voted against it. Once the company has satisfied the terms of its Proposal and continues to meet its current obligations, the debts as of the date of filing are fully extinguished.


The process of implementing a successful Proposal is more complex than we have described and involves a detailed review and assessment of your company’s financial position.


Our Approach

With over 30 years of experience in the field, the team at Campbell Saunders Ltd can analyze your financial situation and find the optimal solutions to manage your debt. We always put you first and develop solutions based on your specific requirements and financial situation. We have a deep understanding of legal procedures and provide various services for personal and corporate debtors, ensuring you have a stress-free experience working with us at all times. You can check our resources to learn more about our services. 

Hassle-free Corporate Creditor Proposals in Vancouver

We offer a number of solutions to help you get a fresh start and make your debt more manageable.

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