Edward Bryce Quon and Quon & Associates Ltd. – November 26, 2007

Canada
Province of Ontario
Industry Canada
Office of the Superintendent of Bankruptcy

In the matter of Edward Bryce Quon
Presently holder of a trustee licence for the Province of Ontario
and Quon & Associates Ltd.
Presently holder of a trustee licence for the Province of Ontario

Decision under
Section 13.2(5) of the Bankruptcy and Insolvency Act (BIA)

Whereas the Bankruptcy and Insolvency Act (the Act) provides the Superintendent of Bankruptcy (the Superintendent) with the general power to supervise the administration of all estates and matters to which the Act applies;

Whereas the Superintendent of Bankruptcy may, for the protection of the estates, exercise the powers set out in subsection 13.2(5) of the Act in suspending or cancelling a trustee's licence under the circumstances referred to in paragraphs (a) to (d) of subsection 13.2(5) and in accordance with subsection 13.2(6) of the Act;

Whereas Mrs. Ann Speers, Assistant Superintendent, Trustee Compliance, submitted her report on this matter on July 24, 2007;

Whereas Mrs. Ann Speers' report states the following as serious deficiencies on the part of the trustee:

• failure to comply with paragraph 30(a) of Directive 13R – Trustee Licensing, which requires a trustee, as a condition to practise, to be solvent at all times;
• failure to comply with paragraph 30(d) of Directive 13R – Trustee Licensing, which requires a trustee to have adequate professional liability insurance and either adequate employee fidelity insurance, a bond or other financial arrangements; and
• failure to comply with paragraph 31 of Directive 13R – Trustee Licensing, which requires a corporate trustee to operate through an individual trustee at all times and in each district for which it holds a licence;

Whereas a notice of intended decision to cancel the trustee's individual and corporate trustee licences pursuant to paragraph 13.2(5)(b) of the Bankruptcy and Insolvency Act was sent by the Superintendent to the trustee on August 28, 2007, in accordance with section 13.2(6) of the Bankruptcy and Insolvency Act; and

Whereas the trustee, Mr. Edward Bryce Quon, did not respond to the Superintendent before September 21, 2007, as requested in his notice of intended decision.

Order

I, the Superintendent of Bankruptcy, pursuant to the statutory powers provided to me, by virtue of subsections 13.2(5) and 14.01(1) of the BIA, hereby order as follows:

That the trustee licences of Mr. Edward Bryce Quon (individual) and Quon & Associates Ltd. (corporate) be cancelled ten days after the issuance of this order.

Ottawa, November 26th, 2007

Superintendent of Bankruptcy

Alain Lafontaine

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This document has been reproduced as submitted.