Guy Loslier — September 17, 2002

In the Matter of
Guy Loslier, a Licensed Trustee
For the Province of Quebec

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Decision Under the Bankruptcy and Insolvency Act

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Whereas an official receiver conducted a visit at the offices of trustee Samson Bélair/Deloitte & Touche Inc. from July 22 to 24, 1998, as well as follow-up visits in September and October 1998, as part of the monitoring program;

Whereas the monitoring report of the official receiver noted that the above-referenced licensed trustee failed in various respects to properly fulfill his statutory duties in the administration of his consolidated trust account for summary administrations;

Whereas this monitoring report resulted in the appointment of a Senior Analyst, Disciplinary Affairs, to conduct a disciplinary investigation;

Whereas , on May 30, 2000, this Senior Analyst issued a report on the conduct of the trustee, alleging serious deficiencies in the administration of the consolidated trust account for summary administrations of Guy Loslier in that:

1. he failed to properly maintain a consolidated trust account for summary administrations as well as an accounting system allowing for an equitable monthly distribution of interest accrued in each estate account, of the aggregate interest accrued in the consolidated trust account;
2. he failed to distribute to the appropriate estate files interest accrued in his consolidated trust account for summary administrations totalling $6,156.83;
3. he failed to remit to the Superintendent, as undistributed funds, any amounts of interest accrued in his consolidated trust account for summary administrations that were not distributed to one of the individual estate accounts;
4. on June 20, 1995, he illegally remitted to Samson Bélair/Deloitte & Touche Inc. the sum of $5,018.90, which had been withdrawn from his consolidated trust account for summary administrations;
5. on June 20, 1995, he failed to sign the cheque in the amount of $5,018.90 drawn on his consolidated trust account for summary administrations;
6. he illegally compensated directly from the interest income of his consolidated trust account for summary administrations bank charges totalling $l,l37.93.

Whereas the said trustee Guy Loslier, though not having made any admission in respect of the offences alleged against him in the report, has decided not to challenge the findings therein;

Whereas for all the above-mentioned offences, except those mentioned in d) and e), Mister Guy Loslier was an employee of Samson Bélair/Deloitte & Touche Inc. and he states having acted at that time in accordance with the policies and directives he received from Samson Bélair/Deloitte & Touche Inc. and from the trustee the late Mister Paul Bertrand, who was at that time in charge of the bankruptcy and insolvency department;

Whereas the trustee Samson Bélair/Deloitte & Touche Inc. has remitted to the Superintendent the bank charges that had illegally been charged directly to the interest income of the consolidated trust account for summary administrations of Guy Loslier;

Whereas the trustee Samson Bélair/Deloitte & Touche Inc. has remitted to the Superintendent

the undistributed interest in the consolidated trust account for summary administrations of Guy Loslier;

Considering the past disciplinary record of the trustee Guy Loslier;

Whereas the parties have submitted to me the draft of this decision which in my opinion is fair and reasonable in the specific circumstances of this case and consistent with public policy;

By These Reasons:

I, the undersigned, Lawrence A. Poitras, Delegate of the Superintendent of Bankruptcy by virtue of the powers delegated to me under section 14.01 of the Bankruptcy and Insolvency Act,

Do Suspend the trustee licence held by Guy Loslier for a period of three (3) weeks starting from the date this decision is signed, during which period he will be barred from acting as a trustee in bankruptcy.

Signed in Montreal, this 17th day of September 2002

Original signed by
The Honorable Lawrence A. Poitras, Q.C.

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This document has been reproduced as submitted by the delegate of the Superintendent of Bankruptcy.