James Bradfield Walker; James B. Walker & Co. Ltd.
Directions for Removal of Conservatory Measures to the Co-Signatories—
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:
James Bradfield Walker
James B. Walker & Co. Ltd.
Directions for Removal of 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 James Bradfield Walker (the Trustee) is the holder of an individual license as trustee in bankruptcy;
Whereas James B. Walker & Co. Ltd. is the holder of a corporate license as a trustee in bankruptcy;
Whereas the Trustee is the sole practitioner of James B. Walker & Co. Ltd.;
Whereas on September 23, 2010 Fred Sheeler, a person to whom the Superintendent had delegated his powers as specified in subsection 14.03(1) of the Act, directed Kyla Nauman and Bill Webster as follows:
to ensure the validity and justification for all payments for expenses, fees, remuneration, etc. from the estate accounts administered by James Bradfield Walker and James B. Walker & Co. Ltd. that are presented for payment subsequent to the issuance of this direction, and if said payments are justified, to co-sign all cheques, bills of exchange, bank drafts, certificates of deposit and fund transfers payable out of the estate trust bank accounts administered by James Bradfield Walker;
Whereas the Trustee has provided deposit slips and indicated that all banks accounts have now been reconciled. The Trustee has hired a third party auditor to review all estate files to determine whether all estate funds have been repaid and that all bank accounts have been reconciled;
Whereas there have not been any issues of non-compliance with regard to the general administration of estate files;
Whereas the Superintendent has delegated to me, in accordance with subsection 14.01(2), the powers of the Superintendent as specified in subsection 14.03(1) of the Act, in the circumstances referred to in subsection 14.03(2) of the Act, a copy of which delegation is attached, along with copies of sections 14.01, 14.02 and 14.03 of the Act;
I, Fred Sheeler, in my capacity as delegate for the Superintendent, remove the directions for conservatory measures issued to the Kyla Nauman and Bill Webster on September 23, 2010;
That in accordance with subsection 14.03(3) of the Act, these directions bind the Kyla Nauman and Bill Webster who must comply with them;
That, pursuant to subsection 14.03(4) of the Act, a person who complies with these directions is not liable for any act done by that person only to comply with these directions.
Signed at the City of London, Ontario, this 2nd day of April, 2012.
Office of the Superintendent of Bankruptcy
This document has been reproduced as submitted by the delegate of the Superintendent of Bankruptcy.
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