Directions for lifting of Conservatory Measures (Sylvie Laperrière)
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 Lifting of 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 the Superintendent can and should, for the protection of an estate, exercise the powers set out in subsection 14.03(1) of the Act (Conservatory Measures), in the circumstances referred to in subsection 14.03(2) of the Act;
Whereas, on November 27, 2007, Marie Tardif, a person to whom the Superintendent had delegated the powers as specified at subsection 14.03(1) of the Act, issued directions to Sylvie Laperrière, guardian trustee as agent for the Office of the Superintendent of Bankruptcy:
To take the necessary steps to administer the following estates and estate files administered by Daniel Adam in accordance with the terms that follow:
43-127947 Learnix Limited
43-127977 TMI-Educaction.Com Inc.
To keep the property, records deeds, books, documents and computerized data and bank accounts related to the above-mentioned files, to make an inventory of them, to preserve them and to administer them in accordance with the provisions of the Act;
To continue the administration of these files in accordance with the duties and responsibilities incumbent on trustees in bankruptcy pursuant to the Act.
Whereas the Superintendent has delegated to myself, Robert Massé, Assistant Superintendent, Trustee Compliance, in accordance with subsection 14.01(2) of the Act, in certain situations referred to in subsection 14.03(2), the powers of the Superintendent as specified at subsection 14.03(1) of the Act;
Whereas Daniel Adam obtained an absolute discharge from his bankruptcy on May 27, 2008, and given that his licence was reactivated on August 26, 2008;
I, the undersigned, in my capacity as Assistant Superintendent, Trustee Compliance, lift the conservatory measures issued to Sylvie Laperrière by Marie Tardif on November 27, 2007.
By virtue of this lifting of conservatory measures issued on November 27, 2007, to Sylvie Laperrière, Mr. Daniel Adam will continue the administration of the estate files 43-127947 Learnix Limited and 43-127977 TMI-Educaction.Com Inc., subject to the rights of creditors under article 14 of the Act.
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 Montreal, Province of Quebec,
this August 29, 2008.
Assistant Superintendent, Trustee Compliance
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