Frank Sheldon Kisluk and Frank S. Kisluk Limited —December 7, 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.

In the Matter of
Frank Sheldon Kisluk
Holder of a Trustee Licence
for the Province of Ontario
Frank S. Kisluk Limited
Holder of a Corporate Trustee Licence
for the Province of Ontario

Decision under the Bankruptcy and Insolvency Act In Respect of Professional Conduct

This is the second interim decision I have rendered in this file at the request of the parties.

It is based on a new joint submission by the parties, signed in , and attached hereto, consequent on the adjournment on , at their request, of the hearing in Toronto of the trustee's application for an extension of the delays for him to perform the obligations assumed by him in the earlier joint submission which I had ratified on .

Hopefully, the present decision may obviate the necessity for a hearing on the merits.

After careful consideration, and after hearing the parties at a telephone conference on , I have concluded it would be appropriate and in the interest of justice for me to agree to their joint proposal.

I therefore ratify their joint submission, which is attached hereto to form an integral part hereof, for all legal purposes, declare it to be executory, and order them to conform thereto, under pain of all legal penalties.

I shall remain seized of the file for all purposes, in order to do whatever may be necessary in the future.


The Honourable Perry Meyer, Q.C.
Delegate of the Superintendent of Bankruptcy

This document has been reproduced as submitted by the delegate of the Superintendent of Bankruptcy.

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