Joseph Mathew; Mathew & Associates Ltd.
Directions for Removal of Conservatory Measures to Co-Signatories—January 22, 2013
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:
Joseph Mathew and
Mathew & Associates 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 Joseph Mathew (the Trustee) is the holder of an individual licence as trustee in bankruptcy;
Whereas Mathew & Associates Ltd. is the holder of a corporate licence as trustee in bankruptcy;
Whereas the Trustee is the sole practitioner of Mathew & Associates Ltd.;
Whereas on October 1, 2012, a direction for conservatory measures related to the administration of estate trust bank accounts of Joseph Mathew and Mathew & Associates Ltd. was issued to Ms. Navpreet Saini and Ms. Marie-Josée Sicard;
Whereas on January 22, 2013, Pollard & Associates Inc. was substituted in place of Joseph Mathew and Mathew & Associates Ltd., by court order, to administer the insolvency estates listed in Schedule "A" of said order;
Whereas I, Sergio Ciardullo, am satisfied that the above-mentioned direction for conservatory measures issued on October 1, 2012, is no longer required;
Whereas the Superintendent has delegated to me, 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 the circumstance referred to in subsection 14.03(2), a copy of which delegation is attached, along with copies of sections 14.01, 14.02 and 14.03 of the Act;
I, Sergio Ciardullo, in my capacity as delegate for the Superintendent, remove the direction for conservatory measures related to the administration of estate trust bank accounts of Joseph Mathew and Mathew & Associates Ltd. issued to Ms. Navpreet Saini and Ms. Marie-Josée Sicard on October 1, 2012;
That in accordance with subsection 14.03(3) of the Act, this direction binds Ms. Navpreet Saini and Ms. Marie-Josée Sicard, who must comply with it;
That pursuant to subsection 14.03(4) of the Act, a person who complies with this direction is not liable for any act done by that person only to comply with this direction.
Signed at the City of Toronto, Ontario, this 22nd day of January 2013.
Assistant Superintendent of Bankruptcy
This document has been reproduced as submitted by the delegate of the Superintendent of Bankruptcy.
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