The RCMP Commercial Crime Sections cooperate with the Superintendent of Bankruptcy to help maintain the integrity of the Canadian bankruptcy and insolvency system by investigating related criminal activities.
The insolvency process is a legal proceeding under the provisions of the Bankruptcy and Insolvency Act , an act that is administered by the Office of the Superintendent of Bankruptcy. If a person or company is unable to meet its debt obligations, it is said to be insolvent. When that happens, there are three main options under the Act:
There are also three main players:
Most crimes in this area are committed by debtors when they hide or dispose of assets fraudulently, before or after being bankrupt; or when they fail to comply with the duties of a bankrupt.