Samuel S. Lévy and Sam Lévy & Associés Inc. – May 22, 2007

Canada
Bankruptcy District
of the Province of Quebec

In the Matter of the Disciplinary File of Ttrustees Samuel S. Lévy and Sam Lévy & Associés Inc. (Quebec) – May 22, 2007

Complainant: Michel Leduc, Senior Analyst

Respondents: Sam Lévy & Associés inc., Corporate Trustee and Samuel S. Lévy, Trustee

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Order Pursuant to Sections 14.01, 14.02 and 14.03 of the Bankruptcy and Insolvency Act

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Considering the evidence submitted and the agreement reached between the parties;

By these Reasons:

Declare the disciplinary proceedings undertaken against trustees Samuel S. Lévy and Sam Lévy & Associés Inc. to be concluded;

Declare the instructions for conservatory measures issued on May 10, 2001 by the Superintendent of Bankruptcy against trustees Samuel S. Lévy and Sam Lévy & Associés to be lifted;

Officially Certify the agreement reached by the parties and order them to comply with it, as per the following provisions:

1. in future, Samuel S. Lévy and Sam Lévy & Associés Inc. may not act as trustees under the Bankruptcy and Insolvency Act except with regard to bankruptcies or proposals of individuals;
2. without limiting the powers conferred on the Superintendent of Bankruptcy by the Bankruptcy and Insolvency Act, bankruptcy and proposal files administered by Samuel S. Lévy may be audited by the Superintendent of Bankruptcy every six months;
3. up to and including November 30, 2007, trustee Samuel S. Lévy must practise his profession in the firm of André Allard & Associés Inc. or another trustee firm that is acceptable to the Superintendent of Bankruptcy, and during that period, he may not be appointed trustee-administrator to any new files, but may take ail other actions reserved for trustees;
4. for the period December 1, 2007 to December 1, 2008, trustees Samuel S. Lévy and Sam Lévy & Associés Inc. may not be appointed trustee administrator for more than two hundred and fifty (250) new files;
5. for the period December 1, 2008 to December 1, 2009, trustees Samuel S. Lévy and Sam Lévy & Associés Inc. may not be appointed trustee administrator for more than three hundred and fifty (350) new files;
6. if the trustee does not respect the terms of this order, the trustee will be in non-compliance as per the provisions of subsection 13.2(5) of the Bankruptcy and Insolvency Act.

Signed at Toronto, this 22nd day of May, 2007

The Honourable Fred Kaufman, Q.C.
Delegate of the Superintendent of Bankruptcy

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