Saskatchewan - Changes in Exemptions Coming

The Enforcement of Money Judgements Act was passed some time ago but has not yet been proclaimed into law in Saskatchewan. We have been advised that it is expected that the law will be brought into effect some time this spring. This new law will change (significatly in some cases) which assets are exempt in a bankruptcy. While the regulations that set out the amounts and nature of the assets that will be exempt have not been released we do have some information on the proposed changes. Changes are also expected in the amounts than can be garnisheed from wage earners.

If you are contemplating insolvency proceedings in Saskatchewan please discuss this issue with us, it may change your decision.

As always, please do not hesitate to contact any member of the MNP Insolvency Team to discuss this further.