Ira Smith Trustee & Receiver Inc.

What Ira Smith Trustee & Receiver Inc. does

Ira Smith Trustee & Receiver Inc. is a federally licensed insolvency and financial restructuring practice based in Vaughan, Ontario, serving individuals and corporations throughout the Greater Toronto Area. Founded in 2005 by Ira Smith after a 17-year tenure as an insolvency partner at PricewaterhouseCoopers, the firm operates three integrated service lines: Personal Bankruptcy Services (bankruptcy filing, consumer proposals, credit counselling, debt consolidation, and credit rebuilding); Corporate Bankruptcy Services (receivership, restructuring and turnarounds under CCAA or BIA, business review and monitoring, corporate bankruptcy administration); and Creditor Services (viability reviews, loan and asset monitoring, and rehabilitation advisory for secured lenders and unsecured creditors). The practice is a Licensed Insolvency Trustee regulated by the Office of the Superintendent of Bankruptcy (OSB), with trustee fees set and overseen by the Federal Government.

The firm runs as a boutique professional services practice with a small senior team comprising Ira Smith (President, CPA, CA, CIRP), Brandon Smith (SVP, CIRP), Elaine Kilmer-Choi (VP, MBA, CPA, CA), and Stanley Sugar (Senior Consultant, CPA), collectively representing 50+ years of cumulative insolvency experience. Services are delivered through direct in-person consultations at the Vaughan office, telephone/toll-free channels available seven days a week, and an established referral network of lawyers, accountants, bankers, and financial advisors. There is no proprietary technology platform; the firm's value proposition is grounded in regulatory licensing, professional credentials, courtroom and receivership track record, and personalized service delivery.

The revenue model is fee-based professional services tied to regulated trustee fees and project-based corporate engagements (receiverships, restructurings, asset sales, viability reviews). The firm does not publish financials, has not raised institutional capital, and operates as a privately held family-influenced practice with no parent company, subsidiaries, or M&A activity. Customer acquisition combines inbound digital channels (website, blog, LinkedIn, Facebook, Twitter, YouTube) with outbound professional referrals, supported by free no-obligation consultations as the primary conversion mechanism.

Name

Ira Smith Trustee & Receiver Inc.

Legal name

Ira Smith Trustee & Receiver Inc.

Website

https://irasmithinc.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

Ira Smith Trustee & Receiver Inc. is a federally licensed insolvency trustee and financial restructuring boutique based in Vaughan, Ontario, serving individuals, corporations, and creditors in the Greater Toronto Area with bankruptcy, receivership, and turnaround services.

Ownership category

akta.pro rank

Product category

Insolvency and Restructuring Services

NAICS

Trust, Fiduciary, and Custody Activities (523991), Trusts, Estates, and Agency Accounts (52592)

SIC

Finance Services (6199)

akta.pro primary industry

Insolvency, Restructuring & Bankruptcy Administration (BPAHABAL)

akta.pro secondary industries

Bankruptcy, Restructuring & Insolvency Law (BPAHAAAH), Debt & Capital Advisory (Debt Raising, Refinancing, Private Credit) (BPAHAOAD)

Keywords

• Insolvency trustee services
• Corporate restructuring
• Consumer proposals
• Debt settlement
• Creditor advisory

Headquarters

HQ city

Vaughan

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Insolvency Administration Services: Fees for administering bankruptcy estates, consumer proposals, and restructuring proceedings. Trustee services include reviewing debtor alternatives, preparing official documentation, validating creditor claims, selling debtor assets, and administering the bankrupt estate from beginning to end. Fees are regulated by the Federal Government through the Office of the Superintendent of Bankruptcy.
2. Corporate Insolvency Services: Services to corporations including business viability reviews, advisors in troubled loan situations, turnaround management, chief restructuring officer placement, and receivership administration under CCAA or BIA.
3. Creditor Services: Advisory services to secured lenders and unsecured creditors to assess credit exposure and provide advice on improving position for collecting outstanding funds. Includes viability reviews, loan and asset monitoring, and rehabilitation advisory.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Ira Smith Trustee & Receiver Inc. is a federally licensed insolvency trustee practice that administers personal and corporate bankruptcy proceedings, consumer proposals, and receiverships under the Bankruptcy and Insolvency Act (BIA) and Companies' Creditors Arrangement Act (CCAA). The firm serves individuals in financial crisis with consumer proposals, personal bankruptcy, credit counselling, debt consolidation, and credit rebuilding, and serves corporations with business viability reviews, receivership, restructuring, turnaround management, and Chief Restructuring Officer services. It also advises secured lenders and unsecured creditors on credit exposure, loan monitoring, and rehabilitation of troubled companies.

Product overview

Ira Smith Trustee & Receiver Inc. is a licensed insolvency and financial restructuring practice offering three integrated service lines: Personal Bankruptcy Services for individuals (including credit counselling, debt consolidation, consumer proposals, bankruptcy alternatives, and credit rebuilding); Corporate Bankruptcy Services for businesses (including receivership, restructuring & turnarounds, business review, and corporate bankruptcy administration); and Creditor Services for lenders and unsecured creditors (including viability reviews, loan monitoring, and company rehabilitation advisory). The firm operates as a unified practice under its own brand, licensed by the Government of Canada, serving the Greater Toronto Area with a boutique approach combining depth of expertise with personalized service.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Bankruptcy Services Licensed insolvency trustee services for individuals facing financial crisis, covering the full bankruptcy process from filing through discharge, including creditor notifications, counselling sessions, and post-bankruptcy credit rebuilding strategies.
• Consumer Proposal Administration Formal offer administered under the Bankruptcy and Insolvency Act to allow individuals to pay creditors a lesser amount over an extended period as an alternative to personal bankruptcy.
• Corporate Bankruptcy and Receivership Services Court-appointed and private receivership, corporate bankruptcy administration, and asset sale processes for corporations of any size unable to meet their financial obligations.
• Corporate Restructuring and Turnaround Management Restructuring strategies under the CCAA or BIA to return companies to financial viability, including Chief Restructuring Officer placement, business viability reviews, and turnaround management for troubled corporations.
• Creditor Advisory Services Advisory and trustee services for secured lenders and unsecured creditors dealing with troubled borrowers, including credit exposure assessments, loan and asset monitoring, viability reviews, and company rehabilitation advisory.

Quantifiable outcome

• Clients gain relief from creditor harassment, wage garnishment, and stress
• +2 more outcomes

Named customers25 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Ontario Association of Insolvency and Restructuring ProfessionalsminorOthersIra Smith has served as board member and President of this professional association. This represents professional affiliation and industry leadership rather than a commercial partnership.

Scale indicators4 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• BDO Canada: National Canadian accounting firm with a dedicated Restructuring and Turnaround practice holding LIT licences and offering personal bankruptcy, corporate receivership, CCAA proceedings, and creditor advisory. Same regulated fee structure and multi-service offering as Ira Smith.
• Grant Thornton Canada: National mid-tier firm providing LIT services, corporate restructuring under CCAA/BIA, receiverships, and advisory to creditors. Direct overlap on the three service lines Ira Smith operates.
• A. Farber & Partners Inc. Canadian boutique insolvency firm specializing in personal bankruptcy, corporate restructuring, receiverships, and creditor advisory with a strong Ontario presence. Closest comparable to Ira Smith on boutique depth, multi-disciplinary services, and case complexity.
• MNP LLP: One of Canada's largest Licensed Insolvency Trustee practices, providing personal bankruptcy, consumer proposals, corporate restructuring, and creditor advisory across multiple provinces including Ontario. Most direct comparable to Ira Smith on services, licensing model, and GTA presence.
• KSV Advisory Inc. Canadian restructuring and insolvency boutique providing corporate receivership, CCAA/BIA proceedings, and creditor advisory. Direct comparable to Ira Smith on boutique corporate-restructuring work in Ontario.
• Bromwich+Smith LLP: Boutique Licensed Insolvency Trustee firm in the Greater Toronto Area focused on personal insolvency, consumer proposals, and creditor advisory. Mirrors Ira Smith's GTA-boutique positioning and personal-insolvency emphasis.

Broad incumbents

• PwC Canada: Big Four firm where Ira Smith spent 17+ years as an insolvency partner; continues to operate a national Restructuring and Insolvency practice. Direct overlap on corporate restructuring, receiverships, and advisory services.
• Deloitte Canada: Big Four firm with a large Restructuring and Insolvency practice handling CCAA proceedings, receiverships, and corporate advisory across Canada. Competes with Ira Smith on mid- and large-market corporate mandates; broader portfolio overshadows the practice's boutique focus.
• KPMG Canada: Big Four firm providing corporate restructuring, CCAA proceedings, insolvency advisory, and creditor-side services in Canada. Overlaps with Ira Smith on complex corporate mandates but operates at much larger scale.

Emerging players

• Alvarez & Marsal Canada: Global restructuring specialist expanding its Canadian footprint in turnaround management, interim management, and distressed advisory. Competes with Ira Smith on larger corporate mandates; does not focus on personal insolvency but overlaps on restructuring work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/toomuchdebt
• YouTubeyoutube.com/channel/UCL3UHDfxt4nk-dMQhjmHnXQ
• Facebookfacebook.com/vaughanbankruptcy
• LinkedInlinkedin.com/company/533381?trkInfo=tas%3AIRA+SMITH+TRUSTEE%2Cidx%3A1-1-1&trk=tyah

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ira Smith Trustee & Receiver Inc.