Notice of Final Dividend and Application for Discharge of Trustee along with the Statement of Receipts and Disbursements

November 1, 2010

Issue

The Office of the Superintendent of Bankruptcy (OSB) has been made aware that several trustees are not filing with our office Form 11, Notice of Final Dividend and Application for Discharge of Trustee, along with a copy of their final statement of receipts and disbursements (SRD) as taxed.

Background

Paragraph 152 (5)(c) of the Bankruptcy and Insolvency Act (BIA) and section 61 of the Bankruptcy and Insolvency General Rules require trustees to send to the Superintendent, along with Form 11, a copy of their dividend sheet as well as a copy of their final SRD as taxed. While some division offices may have advised in the past that these documents are not required, others have continued to receive them. The OSB would like to be consistent in this matter and, as holder of the public record, believes that these documents should be filed in accordance with the BIA.

Conclusion

Based on the foregoing, all trustees are required to submit to the OSB, along with Form 11, a copy of their dividend sheet as well as a copy of their final SRD as taxed.

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