Legal Question in Bankruptcy in California
banckruptcy
If someone files for banckruptcy in us, how does it effect his assets in Canada? What about his credit in Canada?
Asked on 4/21/08, 8:45 pm
1 Answer from Attorneys
Robert F. Cohen
Law Office of Robert F. Cohen
Re: banckruptcy
International law is a little sticky. The U.S. is bound to give "full faith and credit" to judgments in other countries. By treaty, I would assume that Canada would do the same for U.S. judgments. Perhaps others might chime in, here. If the creditors are U.S. creditors, they're bound by the bankruptcy laws in the U.S. to not collect post-discharge against any assets, no matter where they might be held.
Answered on 4/21/08, 9:23 pm
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