Directions to Mr. Maurice Roy for Lifting of Conservatory Measures—June 8, 2012
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:
Sam Lévy and
Sam Lévy & Associés Inc.
Directions for Lifting of 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 Sam Lévy (the "Trustee") is the holder of an individual licence as trustee in bankruptcy;
Whereas Sam Lévy & Associés Inc. is the holder of a corporate licence as trustee in bankruptcy;
Whereas the Trustee is the sole licensed trustee in bankruptcy at Lévy & Associés Inc.;
Whereas the Superintendent may, 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) of the Act;
Whereas on , I, the undersigned, Robert Massé, to whom the Superintendent had delegated the powers of the Superintendent as specified at subsection 14.03(1) of the Act, gave directions for the conservatory measures listed below, in the matter of Sam Lévy and Sam Lévy & Associés Inc. to Maurice Roy, Trustee:
- to take any steps he deemed necessary to continue the administration of the estate assets and files of Sam Lévy and Sam Lévy & Associés Inc.;
- to keep the property and records, deeds, books, documents, data in electronic form and bank accounts related to these files, to make an inventory of them, and to preserve them in accordance with the provisions of the Act;
- to complete the administration of these files in accordance with the duties and responsibilities incumbent on trustees in bankruptcy under the Act.
Whereas the files administered by Sam Lévy and Sam Lévy & Associés Inc. have been substituted to Lemieux Nolet Inc. by order of the Superior Court of Quebec rendered on .
Whereas the Superintendent has delegated to me, 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 the circumstances referred to in subsection 14.03(2), a copy of which delegation is attached, along with copies of sections 14.01, 14.02 and 14.03 of the Act;
I, the undersigned, Robert Massé, in my capacity as Delegate for the Superintendent, lift the directions for conservatory measures issued to Mr. Maurice Roy, Trustee, and direct him to turn over all of the assets and files of the estates of Sam Lévy and Sam Lévy & Associés Inc. to Lemieux Nolet Inc.
In accordance with subsection 14.03 (3) of the Act, these directions bind Mr. Maurice Roy, who must comply with them.
Pursuant to subsection 14.03(4) of the Act, a person who complies with these directions is not liable for any act done by that person only to comply with these directions.
Signed in the City of Montréal in the Province of Quebec, this .
Assistant Superintendent, Trustee Compliance
This document has been reproduced as submitted by the delegate of the Superintendent of Bankruptcy.
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