A promissory note was signed for a personal loan in the amount of 60,000 giving as security paintings and sculptures.
The debtor has made a consumer proposal and the 60,000 debt is shown as an unsecured debt and $20,000 is shown as an asset, from the sale of the paintings and sculptures, with this amount to be divided among the creditors.
When and why does the original promissory note become null and void???
