Notice to Licensed Insolvency Trustees—Reasonable and Fair Provisions in Consumer Proposals
December 5, 2016
The Superintendent of Bankruptcy has issued a position paper regarding Reasonable and Fair Provisions in Consumer Proposals, which should be reviewed by all LITs involved in consumer practice. The paper discusses risks and impacts observed related to the inclusion of “discount clauses” in consumer proposals, and explains the Superintendent’s intended approach to supervising the administration of these estates hereafter.
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