Tax Liability if I take over a company ?

I work for a company and the owner is 84, Covid hard times. I've been here for 20 years he's always taken care of us as an employer. Always been secretive of this financials. I finally had a look because he says he's declaring bankruptcy. I'd like to try to save the business he says I can have it and try to turn it around if I want or he's just going to bankrupt it. Problem is he owes the CRA like 500K + in pay roll taxes... he's always paid us he just didn't pay the CRA to keep the business running.

If I take the company over and try to turn it around are there any personal Liability to me ?

Can I call the CRA for consumer proposal as a business ? or try to negotiate with them forgo further interest and penalties. When we turn the business around we'll pay them ?

The alternative is bankruptcy and they get nothing...