Directions to Murray Ferron and Janet Russell Withdrawn
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.
In the matter of:
John Brock Hobbs
Hobbs and Company
Withdrawal of Directions for Conservatory Measures
(Section 14.03 of the Bankruptcy and Insolvency Act)
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 John Brock Hobbs is the holder of an individual license as trustee in bankruptcy;
Whereas Hobbs and Company is the holder of a corporate trustee license;
Whereas Karl Bueckert, Senior Bankruptcy Analyst imposed the following directions on July 20th, 2004;
I, Karl Bueckert, Senior Bankruptcy Analyst, in my capacity as delegate for the Superintendent of Bankruptcy, direct:
Murray Ferron and/or Janet Russell to ensure the validity and justification of all payments for expenses, fees, remuneration, etc. from the estate accounts administered by Hobbs and Company that are presented for payment subsequent to the issuance of these directions, and if said payments are justified, to co-sign all cheques, bills of exchange, bank drafts, certificates of deposit and fund transfers payable out of the accounts of estates administered by Hobbs and Company, in accounts 200-100-6, 200-101-4 and 200-133-7 of the Royal Bank of Canada, located at Airport & Stockdale Branch, 925 Stockdale Road, Main Floor, North Bay, Ontario, P1B 9N5 and accounts 46-07813 and 46-07910 of the CIBC, located at 4821 Yonge Street, North York, Ontario, M2N 5X2.
Whereas Glenn Steiner replaced Karl Bueckert in relation to these matters effective March 11, 2005;
Whereas Glenn Steiner studied the situation and attended to the trustee's office on two occasions;
Whereas the trustee has improved his banking practices;
Whereas I believe, based on the evidence I have reviewed that the estates do not need the protection afforded by the said directions;
Upon receipt of this document, these measures issued on July 20th, 2004, are hereby lifted.
Signed at the City of Toronto, Ontario this .
Senior Analyst, Disciplinary Affairs
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