Denis Coderre seeks bankruptcy protection

Former federal minister and ex–Montreal mayor Denis Coderre has filed for bankruptcy protection as he struggles under nearly $1.1 million in debt, according to information first reported by Le Journal de Montréal.

Public records from the Office of the Superintendent of Bankruptcy, provided to CityNews, indicate Coderre’s debts include significant amounts owed to tax authorities, a mortgage lender, a credit card company, and several personal creditors.

He has cited a combination of personal and professional setbacks, including health issues and divorce, as contributing factors to his financial collapse.

After selling his home last year, Coderre reports limited remaining assets despite earning close to $204,000 annually in net income from employment and pension sources.

With the help of an insolvency trustee, he reportedly plans to submit a proposal later this month that would see creditors share $240,000 paid over five years.

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