The Bankruptcy and Insolvency Act Forms
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Issued:
The Office of the Superintendent of Bankruptcy (OSB) has amended Form 60, Request for Mediation Made by Trustee, and Form 63, Mediation Settlement Agreement, to introduce an email option to streamline the mediation process in cases where a mediation settlement agreement has been reached between the parties prior to the actual meeting.
Furthermore, to eliminate unnecessary administrative obligations of trustees when administering ordinary bankruptcy estates of individuals, the OSB has combined Form 67, Notice of Bankruptcy and First Meeting of Creditors, and Form 68, Notice of Impending Automatic Discharge of Bankrupt, into one new Form 68, Notice of Bankruptcy, First Meeting of Creditors and Impending Automatic Discharge of Bankrupt. Note that Form 67 is revoked.
Coming into Force
Amended Forms 60, 63 and 68 come into force on December 20, 2013 and apply to persons to whom the , amendments apply.
Enquiries
If you require further information, please do not hesitate to contact the OSB office nearest you.
(This Directive amends Directive No. 8R13 issued on December 19, 2012, on the same topic.)
Interpretation
- In this Directive,
- "Act" means the Bankruptcy and Insolvency Act;
- "Forms" means the forms under the Bankruptcy and Insolvency Act;
- "OSB" means the Office of the Superintendent of Bankruptcy.
Authority and Purpose
- This Directive is issued pursuant to the authority of paragraphs 5(4)(c) and (e) of the Act for the purpose of prescribing the form of certain documents required by the Act and the information to be given therein.
- This Directive prescribes amendments to Form 60, Request for Mediation Made by Trustee, Form 63, Mediation Settlement Agreement, and Form 68, Notice of Impending Automatic Discharge of Bankrupt.
- This Directive revokes Form 67, Notice of Bankruptcy and First Meeting of Creditors.
Summary
- Form 60, Request for Mediation Made by Trustee, and Form 63, Mediation Settlement Agreement, have been amended to introduce an email option to streamline the mediation process in cases where an agreement has been reached between the parties prior to the time set for the mediation. In these select cases, the OSB believes that email provides a suitable alternative to telephone conference calls or in-person mediation provided that all parties to the mediation agree to proceed by email. Therefore, parties choosing to communicate by way of email will have the ability to transmit a signed Form 63, Mediation Settlement Agreement – Expedited Mediation Process, electronically.
- Standard confidentiality clauses have been added to Form 63 for cases where the expedited mediation process is chosen. These clauses remind the parties that they must keep confidential all information disclosed during the mediation and must not use the information for any purpose other than for the mediation, except to the extent required by law or as authorized by the person to whom the confidential information relates.
- To eliminate unnecessary administrative obligations of trustees when administering ordinary bankruptcy estates of individuals, Form 67, Notice of Bankruptcy and First Meeting of Creditors, and Form 68, Notice of Impending Automatic Discharge of Bankrupt, have been combined into one new Form 68, Notice of Bankruptcy, First Meeting of Creditors and Impending Automatic Discharge of Bankrupt. Note that Form 67 is revoked.
- Paragraphs 2–6 of revoked Form 67, Notice of Bankruptcy and First Meeting of Creditors, were added to newly amended Form 68, Notice of Bankruptcy, First Meeting of Creditors and Impending Automatic Discharge of Bankrupt. As a result, in cases where the bankrupt is an individual, trustees will now send the notice of bankruptcy and first meeting of creditors along with the notice of impending automatic discharge of the bankrupt. Merging two forms into one will streamline some of the administrative obligations of trustees and enhance practical application.
Coming into Force
- Amended Form 60, Request for Mediation Made by Trustee, Form 63, Mediation Settlement Agreement // Mediation Settlement Agreement – Expedited Mediation Process, and Form 68, Notice of Bankruptcy, First Meeting of Creditors and Impending Automatic Discharge of Bankrupt, come into force on .
- Amended Forms 60, 63 and 68 apply to persons to whom the , amendments apply.
Enquiries
- For any questions pertaining to this Directive, please contact your local OSB office.
Bill James
Superintendent of Bankruptcy