Directions to the Official Receiver to take possession and control of the assets and files of six estates
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: Daniel Adam
Directions for Conservatory Measures
(Section 14.03 of the Bankruptcy and Insolvency Act)
Whereas the Bankruptcy and Insolvency Act provides the Superintendent of Bankruptcy with the general power to supervise the administration of all estates and matters to which the Act applies;
Whereas Daniel Adam is the holder of a trustee licence;
Whereas Daniel Adam filed a notice of intention on April 25, 2007, and a proposal on October 4, 2007;
Whereas the creditors refused to accept the proposal of Daniel Adam at the meeting held in Québec City on November 27, 2007, and Daniel Adam is therefore deemed to have assigned his property;
Whereas trustee Daniel Adam is insolvent;
Whereas the Superintendent can and should, for the protection of an estate, exercise the powers set out in subsection 14.03(1) of the Act, in the circumstances referred to in subsection 14.03(2)e) of the Act;
Whereas the Superintendent has delegated to the undersigned, in accordance with subsection 14.01(2) of the Act, the powers of the Superintendent as specified at subsection 14.03(1) of the Act, in certain situations referred to in subsection 14.03(2), a copy of which delegation is attached, along with copies of subsections 14.01(2), and 14.03(1) to (4);
Whereas paragraphs 14.03(1)(a) and (b) of the Act apply;
I, the undersigned, Marie Tardif, in my capacity as Assistant Superintendent (Trustee Compliance), direct:
The Official Receiver to take possession and control of the assets and files of the following estates, as well as the accounting data and electronic files related to the estates administered by Daniel Adam, wherever they may be located:
- 43-127947 Learnix Limited
- 43-127977 TMI-EDUCACTION.COM Inc.
- 43-143901 Pierre Sanfaçon
- 43-145560 2535-4127 Québec Inc.
- 43-917740 6087329 Canada Inc.
- 43-144744 9141-6412 Québec Inc.
The Official Receiver may enlist the assistance of any other person deemed necessary to comply with these directions;
These directions take effect immediately and will remain in place until further notice;
In accordance with subsection 14.03(3) of the Act, these directions bind their addressees, who must comply with them;
In accordance with subsection 14.03(4) of the Act, a person who complies with these directions is not liable for any act done by the person only to comply with them.
Signed, in the City of Québec, Province of Quebec, November 27, 2007
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