15 July 2020
How can you find the trustee overseeing insolvency proceedings?
By: Gabriel Di Genova
Are you a creditor of a business or individual facing insolvency proceedings? Identifying the trustee handling the insolvency is a crucial step in safeguarding your rights and ensuring you will be among the recognised creditors.
Here are 4 ways to identify the trustee (or monitor):
- If you heard about the insolvency in the media, pay attention to the details in financial and business publications. A thorough journalist will usually identify the trustee that will act in the file.
- Google it. Searching the name of the entity / individual and terms such as “insolvency,” “bankruptcy,” “BIA” and “trustee” will usually generate results. Keep in mind that certain larger corporations with debts surpassing 5 M$ may not go the route of the Bankruptcy and Insolvency Act, and instead may file pursuant to the Companies’ Creditors Arrangement Act. In that case, try Googling the name of the entity / individual and “Companies’ Creditors Arrangement Act”, “CCAA” or “monitor.” (Keep in mind that for CCAA proceedings, the monitor acts as the corollary of the trustee in BIA proceedings).
- *Verify the website of the Office of the Superintendent of Bankruptcy (http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/home). The Superintendent keeps an active nationwide registry of all insolvency proceedings for both the BIA and CCAA.
- *In Quebec, searching the docket (plumitif) of the Commercial Division of the Superior Court is another option (https://soquij.qc.ca/fr). If you are owed money by a business or individual leaning toward—or in the midst of—insolvency proceedings, you may require assistance navigating the process and safeguarding your rights.
Please contact a member of KRB’s litigation team if you require more information.
*Note that for options #3 and #4, a minimal familiarity with the databases is recommended and an active user account may be required.