MNP LLP, one of Canada’s largest chartered accounting and consulting firms, plans to merge in Stern Cohen Shier Inc., an insolvency firm based in the Toronto area, effective Sept. 1.

Stern Cohen Shier president Rob Shier has been helping individuals and corporations manage debt for almost 30 years. His firm provides consumer proposals, division 1 proposals, personal bankruptcy and corporate bankruptcy/proposal services, as well as financial debt counseling services from six locations in Ontario. They have a resident office in Toronto, in addition to satellite locations in Toronto, Scarborough, Woodbridge and two in Etobicoke.

“This merger is a great fit, and we are thrilled to have Rob and his team join us,” said MNP CEO Daryl Ritchie in a statement. “Not only will we be strengthening our insolvency practice by gaining additional expertise and resources in communities we already operate in but we will also be helping clients regain financial balance in Etobicoke and Woodbridge.”

Financial terms of the merger were not disclosed.

MNP, formerly known as Meyers Norris Penny, also announced in May that Herpers Chagani Gowling Inc. (310-DEBT), a southwestern Ontario-based insolvency firm, would merge with MNP on August 1 (see MNP to Add Insolvency Firm). With these recent mergers, MNP will now deliver a wide range of insolvency services to help individuals and corporations successfully manage financial issues from more than 90 locations across Canada. MNP’s insolvency practice, MNP Limited, has been helping individuals and businesses across Canada manage their financial problems for more than 40 years.

"MNP has a client-focused approach and an unwavering commitment to employees and clients,” said Shier. “We were looking to join a firm that shares our vision, values and dedication to providing quality services.”

Shier and his team will remain in their current Toronto headquarters location for the time being.

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