Directions to the Royal Bank

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: 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 , and a proposal on ;

Whereas the creditors refused to accept the proposal of Daniel Adam at the meeting held in Québec City on , 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;

Therefore,

I, the undersigned, Marie Tardif, in my capacity as Assistant Superintendent (Trustee Compliance), direct the Royal Bank of Canada, branch located at 700 Place d'Youville, Québec City, Province of Quebec, pursuant to paragraphs 14.03(1)b) and c) of the Act:

  • to provide, by close of business on , a list of all estate trust bank accounts in the name of Daniel Adam, trustee in bankruptcy, administered by him or under his control in any way whatsoever, to Louis Nolet, Office of the Superintendent of Bankruptcy, at 1141 Route de l'Église, 4th floor, Québec City, QC G1V 3W5;
  • upon receipt of these directions, to consider Louis Nolet and Marie Tardif, employees of the Office of the Superintendent of Bankruptcy, as the only authorized cosignatories as related to any operations of the funds credited to the estates of bankruptcies and proposals administered by Daniel Adam;
  • to make no debits, payments or transfers of funds credited to the estates of bankruptcies and proposals administered by Daniel Adam unless these debits, payments or transfers of funds are countersigned by Louis Nolet or Marie Tardif. The accounts associated with each file are:
    • 43-127947 Learnix Limited 100-407-6
    • 43-127977 tmi education.com Inc. 207-397-1
    • 43-143901 Pierre Sanfaçon 207-442-5
    • 43-145560 2535-4127 Québec Inc.207-479-7
    • 43-917740 6087329 Canada Inc. 207-474-8
    • 43-144744 9141-6412 Québec Inc.207-462-3
  • to not pay out of these accounts any cheques, bills of exchange, bank drafts or other instruments issued before receipt of these directions that are presented for payment after receipt of these directions, unless these cheques, bills of exchange, bank drafts or other instruments are countersigned by Louis Nolet or Marie Tardif;
  • to submit all statements of account, accepted cheques and other documents or information having to do with the above-mentioned estate trust bank accounts to Louis Nolet, Office of the Superintendent of Bankruptcy, 1141 Route de l'Église, 4th floor, Québec City, QC G1V 3W5;

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,

Marie Tardif
Assistant Superintendent
Trustee Compliance

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