Inspectors' Handbook

For Inspectors Appointed Pursuant to
the Bankruptcy and Insolvency Act

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Printable Format: Inspectors' Handbook – For Inspectors Appointed Pursuant to the Bankruptcy and Insolvency Act (PDF Format, 268 KB, 33 pages)

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Table of Contents

Preface

Part I - General Information

• Trustee's role
• Inspector's role

Part II - Board of Inspectors

• Appointment of inspectors
• Defects or irregularities in the appointment of inspectors
• Vacancy on the board of inspectors
• Inspectors' responsibilities
• Sale of assets
• Requirement to pay dividends
• Proposals under Part III of the Bankruptcy and Insolvency Act

Part III - Dealing with Bankruptcy Abuses

• Powers of the Superintendent of Bankruptcy
• Trustee Compliance
• Inspectors' role in handling abuses
• Statutory offences

Part IV - Inspectors' Fees

• Range of Payments

Appendix A – Glossary

Appendix B – Mandate and Mission of the Office of the Superintendent of Bankruptcy

Appendix C – Division Offices of the Superintendent of Bankruptcy

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For a print copy of this publication, please contact:

Office of the Superintendent of Bankruptcy
Heritage Place
155 Queen Street, 4th Floor
Ottawa ON K1A 0H5

Tel.: 613-941-1000
Fax: 613-941-2862
Email: osbpublicationsbsf@ic.gc.ca
Website: osb.ic.gc.ca

This publication is available upon request in accessible formats. Contact:

Multimedia Services Section
Communications and Marketing Branch
Industry Canada
Room 441F, East Tower
235 Queen Street
Ottawa ON K1A 0H5

Telephone: 613-947-5177
Fax: 613-954-6436
Email: production.multimedia@ic.gc.ca

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Preface

This document is a guide for individuals who have been appointed inspectors under the Bankruptcy and Insolvency Act (the Act). Its aim is to provide information about the role and responsibilities of inspectors, as well as to highlight and explain relevant provisions of the Act. Although the material is often technical and complex, we have attempted to present it as clearly as possible without oversimplifying substantive aspects of the Act.

Inspectors have a significant role to play in the administration of insolvent estates. Creditors appoint inspectors to represent them during the administration of the estate. Inspectors act in a fiduciary capacity, in that they are generally responsible to the body of creditors who appoint them, and should perform their duties impartially and in the interests of the creditors.

Disclaimer

The material and information provided by the Office of the Superintendent of Bankruptcy in this guide is for informational purposes only and should not be considered as legal advice. Although every effort has been made to ensure the accuracy, the currency and the reliability of the content, the Office of the Superintendent of Bankruptcy does not offer any guarantee in that regard. This information is not intended to be a substitute for professional advice provided by lawyers or authorized bankruptcy specialists. You may wish to contact a lawyer or a trustee from your province or territory in order to get accurate information or advice tailored to the facts of your particular circumstances.

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