HSBC, Hamilton

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;

Whereas the Deputy Superintendent (Programs, Standards and Regulatory Affairs), has appointed Glenn Steiner, trustee, as agent of the Office of the Superintendent of Bankruptcy to administer these files;

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

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

HSBC, branch located at 40 King St. East, Hamilton, province of Ontario;

  1. to consider, upon reception of the present instructions, Glenn Steiner, trustee, agent of the Office of the Superintendent of Bankruptcy, as the only signatory as relates to any operations on the funds credited to the estates of bankruptcies and proposals administered by Joseph Lukas;
  2. to make no debit and / or payment and /or transfers on funds credited to the estates of bankruptcies and proposals administered by Joseph Lukas, without having obtained the signature of Glenn Steiner;
  3. to not pay, out of these accounts, bills of exchange, cheques, bank drafts or other, emitted before the reception of these instructions which would be presented for payment after the receipt of these instructions without these cheques, bills of exchange or drafts or other being co-signed by Glenn Steiner;
  4. to submit all statement of accounts, accepted cheques and/or other document and information having to do with the above mentioned estate accounts, to Glenn Steiner;
  5. to provide, as soon as possible, the list of trust bank accounts of Joseph Lukas to Glenn Steiner;

These instructions take effect immediately and will remain in force until further notice or until a decision is rendered under section 14.01 of the Act;

In accordance with subsection 14.03(3) of the Act, these instructions bind the 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.

These instructions take effect immediately and will stay in place until further notice;

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: