Samuel S. Lévy and Sam Lévy & Associés Inc. — May 22, 2007
Professional Conduct Decision
What is a professional conduct decision?
An investigation into a Licensed Insolvency Trustees (LIT)'s professional conduct is initiated when there is information to suggest that the LIT has not properly performed the duties of a trustee or there has been improper administration of an estate or lack of compliance with the Bankruptcy and Insolvency Act (BIA).
In some cases, the findings are sufficiently serious to support a recommendation for sanctions against the LIT's licence (cancel or suspend a LIT's licence (subsection 13.2(5) of the BIA) or impose conditions or limitations (subsection 14.01(1) of the BIA)).
The professional conduct decision is deemed to be a decision of a federal board, commission or tribunal and may be judicially reviewed by the federal court.
of the Province of Quebec
In the Matter of the Disciplinary File of Ttrustees Samuel S. Lévy and Sam Lévy & Associés Inc. (Quebec) —
Complainant: Michel Leduc, Senior Analyst
Respondents: Sam Lévy & Associés inc., Corporate Trustee and Samuel S. Lévy, Trustee
Order Pursuant to Sections 14.01, 14.02 and 14.03 of the Bankruptcy and Insolvency Act
Considering the evidence submitted and the agreement reached between the parties;
By these Reasons:
Declare the disciplinary proceedings undertaken against trustees Samuel S. Lévy and Sam Lévy & Associés Inc. to be concluded;
Declare the instructions for conservatory measures issued on May 10, 2001 by the Superintendent of Bankruptcy against trustees Samuel S. Lévy and Sam Lévy & Associés to be lifted;
Officially Certify the agreement reached by the parties and order them to comply with it, as per the following provisions:
- in future, Samuel S. Lévy and Sam Lévy & Associés Inc. may not act as trustees under the Bankruptcy and Insolvency Act except with regard to bankruptcies or proposals of individuals;
- without limiting the powers conferred on the Superintendent of Bankruptcy by the Bankruptcy and Insolvency Act, bankruptcy and proposal files administered by Samuel S. Lévy may be audited by the Superintendent of Bankruptcy every six months;
- up to and including , trustee Samuel S. Lévy must practise his profession in the firm of André Allard & Associés Inc. or another trustee firm that is acceptable to the Superintendent of Bankruptcy, and during that period, he may not be appointed trustee-administrator to any new files, but may take ail other actions reserved for trustees;
- for the period to , trustees Samuel S. Lévy and Sam Lévy & Associés Inc. may not be appointed trustee administrator for more than two hundred and fifty (250) new files;
- for the period to , trustees Samuel S. Lévy and Sam Lévy & Associés Inc. may not be appointed trustee administrator for more than three hundred and fifty (350) new files;
- if the trustee does not respect the terms of this order, the trustee will be in non-compliance as per the provisions of subsection 13.2(5) of the Bankruptcy and Insolvency Act.
Signed at Toronto, this
The Honourable Fred Kaufman, Q.C.
Delegate of the Superintendent of Bankruptcy
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