BDO, KPMG confirm sale of KPMG's consumer insolvency practice
TORONTO---Continuing to expand on one of Canada's most comprehensive financial recovery practices, BDO Canada Limited is pleased to announce the integration of KPMG's consumer insolvency practice into BDO's national financial recovery services practice. Effective August 26th, 2011, the practices now operate under the BDO Canada Limited name.
BDO's financial recovery services practice now consists of 76 Chartered Insolvency and Restructuring Professionals and over 240 other professional and administrative staff combined, working in over 95 offices across the country. This sale makes BDO one of the largest teams of professionals providing consumer insolvency services in Canada.
The newly expanded team of trustees in bankruptcy, proposal administrators, credit counsellors and support staff will continue delivering quality, timely and professional advice to individuals and businesses with financial difficulties across Canada.
"KPMG is making the strategic decision to focus on our corporate restructuring and turnaround services" says Bill Thomas, CEO of KPMG. "As a firm that has a strong bankruptcy practice in Canada, BDO was the best destination choice for our consumer bankruptcy team and clients."
Bill Courage, National Insolvency Practice Leader, of BDO Canada Limited stated: "We are proud to combine forces with such a strong practice. Our teams and leadership groups across the country share a common strength and philosophy of helping individuals and business owners find win-win solutions with creditors. We are excited to have KPMG's team of well-respected professionals and their staff joining BDO."
Keith Farlinger, Chief Executive Officer of BDO Canada LLP, adds: "This integration demonstrates our ongoing commitment to building and strengthening our financial recovery practice across Canada. On behalf of our firm, I am pleased to welcome the KPMG team."