Directions for Lifting of 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: Georges E. Marchand and Marchand Syndics Inc.
Directions for Lifting Conservatory Measures
(Section 14.03 of the Bankruptcy and Insolvency Act)
Whereas the Bankruptcy and Insolvency Act provides the Superintendent of Bankruptcy with the general power to supervise the administration of all estates and matters to which the Act applies;
Whereas the Superintendent of Bankruptcy may, for the protection of an estate, exercise the powers set out in subsection 14.03(1) of the Act, in the circumstances referred to in subsection 14.03(2) of the Act;
Whereas the Superintendent of Bankruptcy 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);
Whereas on February 10, 2004, Sylvie Laperrière, Senior Analyst, Professional Conduct, issued directions for the following conservatory measures to the Official Receiver:
- to not appoint Marchand Syndics Inc. or Georges E. 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, Robert Massé, in my capacity as Assistant Superintendent, Trustee Compliance, lift said directions for conservatory measures.
In accordance with subsection 14.03(3) of the Act, these directions bind their addressees, who must comply with them.
In accordance with subsection 14.03(4) of the Act, a person who complies with these directions is not liable for any act done by the person only to comply with them.
Signed, in the City of Montréal, Quebec,
February 17, 2010
Assistant Superintendent, Trustee Compliance
- Date modified: