Glenn Steiner

Conservatory Measures

What is a conservatory measure?

The Superintendent of Bankruptcy puts in place conservatory measures when a bankruptcy or insolvency estate needs protection. It might be in cases of Licensed Insolvency Trustee (LIT) malfeasance or if serious wrongdoing on the part of a LIT puts estate files at risk. Conservatory measures may also be put in place if a LIT becomes ill or dies without a valid succession agreement. Finally, conservatory measures may be put in place if a LIT, for whatever reason, has allowed the administration of his or her practice to become substandard.

Canada

In the matter of: Joseph Lukas


Instructions for Conservatory Measures
(section 14.03 of the Bankruptcy and Insolvency Act)


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

Whereas Joseph Lukas became bankrupt on December 10, 2002;

Whereas the trustee licence of Joseph Lukas ceases to be valid pursuant to Subsection 13.2 (3) of the Bankruptcy and Insolvency Act when the trustee became bankrupt;

Whereas the estates administered by Joseph Lukas before his bankruptcy are left without a trustee by the insolvency of the trustee;

Whereas the Superintendent of Bankruptcy may and must, for the protection of an estate, exercise the powers referred to in subsection 14.03(1) of the Act in the circumstances stipulated in subsection 14.03(2) of the Act;

Whereas the Superintendent of Bankruptcy has delegated to the Deputy Superintendent (Programs, Standards and Regulatory Affairs), in accordance with subsection 14.01(2) of the Act, in certain situations mentioned in subsection 14.03(2), his powers as specified at subsection 14.03 (1) of the Act, copies of which delegation are attached along with copies of subsections 14.01(2) and 14.03(1) to (4) of the Act ;

In accordance with paragraphs 14.03(1)a) and b) of the Bankruptcy and Insolvency Act;

I, Alain Lafontaine, in my capacity as Deputy Superintendent (Programs, Standards and Regulatory Affairs), give instruction to:

Glenn Steiner, trustee, as agent of the Office of the Superintendent of Bankruptcy,

  1. to take possession and control of the property and estate files, accounting and computerized data and estate files of Joseph Lukas of which a list of estates is provided as Attachment A wherever they may be located and notably at the following locations:

17, Dundurn Street South,
Hamilton, Ontario

and to move them to the office of the guardian, located at 600 – 25 St. Clair Avenue East, Toronto, Ontario, M4T 1M2; and

  1. to take all the necessary steps to complete the administration of the estates and estate files that were administered by Joseph Lukas, and namely:
    1. To keep the property and records, deeds, books, documents, electronic data and bank accounts related to these files, to make an inventory of them, to preserve them in accordance with the provisions of the Bankruptcy and Insolvency Act;
    2. To complete the administration of these files in accordance with the duties and responsibilities incumbent on trustees in bankruptcy according to the Act.

These instructions take effect immediately and will remain in force until further notice;

In accordance with subsection 14.03(3) of the Act, these instructions bind their addressee, who must comply with them;

In accordance with subsection 14.03(4) of the Act, a person who complies with the present instructions is not liable for any act done by the person only to comply with them.

Signed, in the City of Ottawa, Ontario, February 25, 2003

Alain Lafontaine
Deputy Superintendent (Programs, Standards and Regulatory Affairs)

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