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March 18, 2011
Insolvencies fell 11.5 per cent in Canada last year, with 140,234 new cases filed compared with 158,441 cases in 2009.
Marvin Zweig, CA, CIRP, Trustee in Bankruptcy with Meyers Norris Penny Limited, said he is not yet convinced there has been a broad turnaround in insolvencies in Canada. He said a flood of new companies have emerged offering to help consumers informally restructure their debts.
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