Directions for Lifting Conservatory Measures
What is a conservatory measure?
The Superintendent of Bankruptcy puts in place conservatory measures when a bankruptcy or insolvency estate needs protection. It might be in cases of Licensed Insolvency Trustee (LIT) malfeasance or if serious wrongdoing on the part of a LIT puts estate files at risk. Conservatory measures may also be put in place if a LIT becomes ill or dies without a valid succession agreement. Finally, conservatory measures may be put in place if a LIT, for whatever reason, has allowed the administration of his or her practice to become substandard.
In the matter of: Bruno Marchand
Directions for Conservatory Measures
(Section 14.03 of the Bankruptcy and Insolvency Act)
Whereas the Bankruptcy and Insolvency Act (the Act) provides the Superintendent of Bankruptcy (the Superintendent) with the general power to supervise the administration of all estates and matters to which the Act applies;
Whereas the Superintendent of Bankruptcy may, in order to protect estate assets, exercise the powers set out in subsection 14.03(1) of the Act, under the circumstances anticipated in subsection 14.03(2) of the Act;
Whereas the Superintendent has delegated to the undersigned, in accordance with subsection 14.01(2) of the Act, the powers of the Superintendent as specified at subsection 14.03(1) of the Act, in certain situations referred to in subsection 14.03(2), a copy of which delegation is attached, along with copies of subsections 14.01(2) and 14.03(1) to (4) of the Act;
Whereas on February 10, 2004, the undersigned issued the following direction for conservatory measures to the official receiver:
- to not appoint Bruno Marchand to administer any new ordinary administration estates
Whereas the undersigned has noted the trustee’s completion of the administration of ordinary administration files that were more than three years old;
I, the undersigned, Sylvie Laperrière, in my capacity as Senior Analyst, Professional Conduct, lift said direction for conservatory measures.
In accordance with subsection 14.03(3) of the Act, this direction binds the addressees, who must comply with the direction;
In accordance with subsection 14.03(4) of the Act, a person who complies with this direction is not liable for any act done by the person only to comply with the direction.
Signed, in the City of Québec, Province of Québec,
March 13, 2008
Senior Analyst, Professional Conduct
- Date modified: