TORONTO, Jan. 12, 2012 /CNW/ - The Royal Canadian Mounted Police,
Greater Toronto Area Commercial Crime Section, in collaboration with
the Ontario Region Special Investigation Unit of the Office of the
Superintendent of Bankruptcy (OSB), charged Sukumar KANAGIAH, age 41,
of Toronto with offences under the Bankruptcy and Insolvency Act. The charges relate to an alleged failure to answer fully and
truthfully and a failure to complete the duties required of persons
seeking bankruptcy protection.
The Bankruptcy and Insolvency Act permits a debtor to obtain a discharge from his or her debts, subject
to certain conditions and requirements. These requirements are imposed
to preserve and protect the integrity of Canada's insolvency process
for the general benefit of investors, lenders, consumers, and the
broader public interest.
In August, 2010, KANAGIAH, filed an assignment into bankruptcy with
declared debts exceeding $380,000. Accordingly, his creditors were
required to suspend their collection efforts at that time. KANAGIAH's
final discharge has been opposed by the OSB pending the outcome of
these criminal proceedings. He is scheduled for a first appearance on
Friday, January 27th, 2012, at Old City Hall Courthouse in Toronto.
The combined efforts of the RCMP and the OSB Special Investigation Units
will continue to focus on responding to allegations of criminal
wrongdoing related to the bankruptcy and insolvency system and
undertaking criminal investigations where evidence of wrongdoing
exist. The objective is to maintain confidence in the integrity of the
bankruptcy and insolvency system and the economic stability of Canada.
The RCMP GTA Commercial Crime Section can be reached by calling the RCMP
Toronto West Detachment at 1-800-461-9398.
SOURCE Royal Canadian Mounted Police
For further information:
Sgt. Richard Rollings,
Media Relations Coordinator
RCMP "O" Division
Office: (519) 640-7302
Cell: (416) 992-4409