F. The Role of the Superintendent of Bankruptcy

• Author: Roderick J. Wood
• Profession: Faculty of Law. University of Alberta
• Pages: 238-240

Page 238

The Office of the Superintendent of Bankruptcy was created in 1932 as a response to cases involving the appointment of incompetent or dishonest trustees.¹⁶³The superintendent is responsible for supervising the administration of all estates and matters to which the BIA applies.¹⁶⁴

Page 239

One of the primary duties of the superintendent is to license trustees. The superintendent determines the qualifications and the criteria to be applied in determining if a trustee’s licence is to be issued to a person.¹⁶⁵

These include successful completion of qualifying courses and exams. The superintendent has the power to investigate complaints concerning potential wrongdoing in the administration of a bankrupt estate.¹⁶⁶

Following an investigation, the superintendent may cancel or suspend the licence of a trustee or place conditions on it if it appears that the trustee has not properly performed the duties of a trustee or has failed to comply with the provisions, rules, or directives governing trustees or if it is in the public interest to do so.¹⁶⁷

The superintendent issues directives on the powers, duties and functions of trustees.¹⁶⁸Several directives have been issued on matters such as the preparation of the inventory of estate assets and surplus income and on standards for recommending conditions of discharge for first-time bankrupts. The superintendent also maintains a record of all bankruptcies and has established a registry system that permits interested persons to search by individual or debtor name to determine if insolvency proceedings have been initiated.¹⁶⁹

FURTHER READINGS

ANDERSON, h., "Insolvency Practitioners: Professional Independence and Conflict of Interest" in A. Clarke, ed., Current Issues in Insolvency Law (London: Stevens, 1991) 1

CANADA, STUDY Committee on BANKRUPTCY AND INSOLVENCY LEGISLATION, Bankruptcy and Insolvency: Report of the Study Committee on Bankruptcy and Insolvency Legislation (Ottawa: Study Committee on Bankruptcy and Insolvency Legislation, 1970) c. 6 (Tassé Report)

LALONDE, l., "Fairness and Due Process: Update on the Disciplinary Powers of the OSB over Trustees" in Janis P. Sarra, ed., Annual Review of Insolvency Law, 2007 (Scarborough, ON: Carswell, 2008) 295

Page 240

LANDO, A., "Sale of Assets by a Trustee: The Fundamental Pragmatics" (1991) 3 C.B.R. (3d) 179

NEVILLE, w., "Faithful Watchman or Trojan Horse???" (2006) 23 Nat’l Insolv. Rev. 39

ZIEGEL, J., "The Personal Liabilities of...