Many cryptocurrency lenders have declared bankruptcy. These loss events are indicators of the significant losses the cryptocurrency market has experienced this year.
For investors who have suffered, an important consideration is how to capitalize on these losses. Accordingly, this article will analyze the recent Celsius Network (“Celsius”) bankruptcy and the tax strategy of writing off bad debt.
The Celsius Bankruptcy
Canada, Banking, Insolvency & Restructuring, IT & Data Protection, Litigation, Tax, Miller Thomson LLP, Bankruptcy, Debtor, Cryptocurrency, Canada Revenue Agency, Bankruptcy and Insolvency Act 1985 (Canada)
In Chandos Construction Ltd v Deloitte Restructuring Inc[1] [Chandos], the majority of the Supreme Court of Canada (the “SCC”) reaffirmed the common law anti-deprivation rule in Canada.
Canada, Company & Commercial, Insolvency & Restructuring, Litigation, Miller Thomson LLP, Supreme Court of Canada