E. The Role of the Office of the Superintendent of Bankruptcy

• Author: Roderick J. Wood
• Profession: Faculty of Law. University of Alberta
• Pages: 401-402

Page 401

The CCAA was originally outside the purview of the Office of the Superintendent of Bankruptcy. The superintendent had no role in establishing licensing requirements in respect of monitors, in investigating complaints, or in maintaining statistical records of CCAA proceedings. This is no longer the case. The 2005/2007 amendments have given the Superintendent of Bankruptcy administrative oversight in the conduct of insolvency professionals in respect of CCAA proceedings. The superintendent now has the same broad powers in respect of the licensing and investigation of monitors as exercised by trustees under the BIA.⁸⁴

In addition, the superintendent is under an obligation to maintain a public record of CCAA proceedings.⁸⁵

FURTHER READINGS

KENT, A., & W. Rostom, "The Auditor as Monitor in CCAA Proceedings: What Is the Debate?" in Janis P. Sarra, ed., Annual Review of Insolvency Law, 2003 (Toronto: Carswell, 2004) 197

KENT A., w. rostom, A. MAEROV, & t. WEERASORRIYA, "Canadian Business Restructuring Law: When Should a Court Say ‘No’?" (2008) 24 B.F.L.R. 1

Page 402

LOPUCKI, l., & W. WHITFORD, "Corporate Governance in the Bankruptcy Reorganization of Large, Publicly Held Companies" (1993) 141 U. Pa. L. Rev. 669.

MORAWETZ, G., "Under Pressure: Governance of the Financially Distressed Corporation" in J. Sarra, ed., Corporate Governance in Global Capital Markets (Vancouver: University of British Columbia Press, 2003) 275

MYERS, f., "Justice Farley in Real Time" in Janis P. Sarra, ed., Annual Review of Insolvency Law, 2006 (Toronto: Carswell, 2007) 197

SANDRELLI, J., "The Role of Court-Appointed Officers in the Governance of Financially Distressed Corporations" in J. Sarra, ed., Corporate Governance in Global Capital Markets (Vancouver: University of British Columbia Press, 2003) 345

SARRA, J., "Ethics and Conflicts: The Role of Insolvency Professionals in the Integrity of the Canadian...