High income tax debtor - Owes over $200,000 for income tax, comprising 75% of proven claims, Voting letter - A letter sent by creditors advising the LIT of their to vote on a proposals, Assessment - The initial evaluation of a debtor’s financial situation by an LIT to determine the appropriate course of action, Deemed court approval - Automatic court approval of a consumer proposal if no objections are raised within a specified timeframe, Suspended discharge - A delay in the debtor’s discharge from bankruptcy, often due facts under s. 173 BIA, Deemed annulment - The automatic cancellation of a consumer proposal when the account is in arrears by the value of 3 months' payments, Proof of claim - A document filed by creditors to confirm the debt owed by the bankrupt individual or entity, Provisional bankruptcy tax return - A formal estimate of the tax amount due from January 1 to the date a proposal is filed, Automatic discharge - The automatic release of a first-time bankrupt from most unsecured debts, Appointment - The formal designation of an LIT to administer a proposal or bankruptcy estate, Tariff - A government-regulated fee formula associated with summary administration bankruptcy and consumer proposal administrations, Pro rata - The proportional distribution of funds to creditors based on the size of their claims, Pre-bankruptcy tax return - A tax return for income earned by the debtor from the beginning of the year until the bankruptcy filing date, EOSD - End of Study Date, used to determine whether a student loan is dischargeable,

Review Activity - CP and Bky terms

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