Burlingham Associates Inc - exempt - Bankruptcy / Proposal / Financial Glossary

Bankruptcy / Proposal / Financial Glossary

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exempt	Those items that can not be legally seized by any execution creditor to enforce a debt or by a trustee in bankruptcy. These exemptions are determined by the province a debtor resides in at the time of filing of a bankruptcy or proposal. Exempt assets do not vest in the Trustee for the benefit of creditors.

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