Comprehensive review of directives and regulations under the BIA and the CCAA – Stakeholder submissions

Note

Submissions have been published in the official language received from stakeholders.

Aryza Canada

From: Stephanie Harper

Sent: June 10, 2021 12:25:43 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Stephanie Harper

Subject: OSB Comprehensive Review - Insolvency

Hello

Please accept this formal submission and feedback on behalf of Aryza Canada specific to the Comprehensive Review of Insolvency in Canada.

Kind Regards

Stephanie

Stephanie Harper
CEO Aryza Canada
Office 613-800-8337
Cell 01-613-552-5521

stephanie.harper@aryza.com
www.aryza.com

Attachment: OSB Comprehensive Review 2021- Submission Aryza.pdf

Canaccede International Management Ltd.

From: Phil Overton

Sent: June 9, 2021 2:37:12 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: OSB comprehensive review of directives and regulations

Good Afternoon,

I would like to provide some feedback for the review of the OSB directives and regulations.

  1. OSB record
    • Allow registered collection agencies the ability to complete the OSB searches without a per estate search This could be through a registration similar to LIT’s and an annual fee.
    • Allow collection agencies access to a summary of all new insolvencies (similar to what is provided to credit reporting bureaus) as in some cases the customer does not include all the outstanding liabilities and as such claims are being
  2. Unclaimed Dividends’
    • Simplify the process for the creditor to recover monies that have been sent to the OSB and not the creditor. Currently a separate request needs to be completed for every payment and does not allow for a bulk

If you would like some additional clarification, then do not hesitate in contacting me. Thank you for your consideration.

Phil Overton

Director of Operations | Canaccede International Management Ltd.
140 Fullarton Street, 9th Floor | London, Ontario | N6A 5P2
(226) 721-0224 | phil.overton@canaccede.com

Canadian and Ontario Association of Credit Counselling Services

Moores, William

From: William Moores

Sent: June 10, 2021 4:55:45 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: William Moores

Subject: OACCS Submission to the OSB re Comprehensive review of directives and regulations under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act

Good afternoon,

Thank you for the opportunity to provide this submission on behalf of the accredited financial counselling industry in Canada. This submission represents the feedback obtained from the accredited non-profit credit counselling member agencies that we represent in addition to the Accredited Financial Counsellor Canada designated Practitioners in various industries throughout the country.

If you should have any questions or would like to connect directly, please let me know. Kind regards,

William Moores Executive Director

Canadian and Ontario Association of Credit Counselling Services

1155 North Service Rd W Unit #11 Oakville, Ontario
L6M 3E3
Phone: 905-945-5644
Toll Free: 1-888-746-3328
Fax: 289-205-0624

wmoores@financialfitness.ca
www.financialfitness.ca

Attachment: OACCS Submission to the OSB re Comprehensive review of directives and regulations under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act, June 10, 2021.pdf

Canadian Association of Insolvency and Restructuring Professionals (CAIRP)

From: Anne Wettlaufer <Anne.Wettlaufer@cairp.ca>

Sent: June 7, 2021 11:24 AM

To: Lang, Elisabeth (IC); OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: CAIRP response to the OSB's Comprehensive review of directives and regulations under the BIA and CCAA

Superintendent Lang,

On behalf of the members of the Canadian Association of Insolvency and Restructuring Professionals (CAIRP) we are pleased to provide you with CAIRP’s response to the OSB's Comprehensive review of directives and regulations under the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act. Thank you for inviting CAIRP to participate in this important consultation. CAIRP believes this regulatory review can lead to innovative and meaningful solutions that support the goals of Canada’s insolvency regime.

We look forward to discussing our recommendations with the OSB in the weeks ahead and answering any questions you may have.

Sincerely,

Anne Wettlaufer

Anne Wettlaufer, FICB
President and CEO | Président et Chef De La Direction
Canadian Association of Insolvency and Restructuring Professionals (CAIRP)
Association canadienne des professionnels de l’insolvabilité et de la réorganisation (ACPIR)
277 Wellington Street West | 277 rue Wellington ouest | Toronto, ON M5V 3H2
T:647-560-5443| Anne.Wettlaufer@cairp.cawww.cairp.ca

Attachments

Canadian Bar Association - Insolvency Law Section

From: Marc-Andre O'Rourke

Sent: June 10, 2021 11:27:53 AM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: CBA Submission- Review of directives and regulations under BIA and CCAA

Dear Ms. Ringor:

The Insolvency Law Section of the Canadian Bar Association is pleased to comment on the Office of the Superintendent of Bankruptcy’s review of directives and regulations under the Bankruptcy and Insolvency Act (BIA) and the Companies’ Creditors Arrangement Act (CCAA).

Thank you for the opportunity to participate in the consultation. We trust our comments will assist the modernization of the regulations and directives.

Kind regards,

Marc-André O’Rourke

Lawyer, Advocacy / Avocat, Représentation
The Canadian Bar Association / L’Association du Barreau Canadien
(613) 237-2925 ext 191 | (800) 267-8860
marcao@cba.org | cba.org

Attachment: 21-24-eng.pdf

Canadian Debtors Association

From: henrietta@cdndebtorsassoc.ca

Sent: June 10, 2021 5:19:13 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Canadian Debtors Assocation Submission re OSB Consultation Paper, June 10, 2021

Dear OSB, Policy and Regulatory Affairs,

Please see my attached submission in response to the OSB Consultation. Kindly confirm receipt – thank you very much.

With kindest regards,

Henrietta Ross
President & CEO
Canadian Debtors Assocation
236 Pritchard Road, Hamilton, ON L8W 3P7 M: (416) 720-2541 

Attachment: OSB Consultation, June 2021, Canadian Debtors Association submission, H. Ross VF.pdf

Consumers' Association of Canada (Manitoba)

From: Gloria Desorcy

Sent: June 10, 2021 6:42:20 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Review of Directives and Regulations under the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act

Good afternoon.

Attached please find the comments of the Manitoba branch of the Consumers' Association of Canada (CAC Manitoba) regarding the Office of the Superintendent of Bankruptcy Review of Directives and Regulations under the Bankruptcy and Insolvency Act and the Companies' Creditors Arrangement Act.

On behalf of CAC Manitoba, I would like to thank the OSB for the opportunity to provide comments, reprsenting the consumer interest, on these important directives and regulations.

Sincerely, Gloria Desorcy

Gloria Desorcy Executive Director CAC Manitoba
204-998-3707 (cell)
204-284-1876
Gloria@CACManitoba.ca

Attachment: CAC Manitoba Comments to OSB re review of Directives and Regulations under the Bankruptcy and Insolvency Act and Companies' Creditors Arrangement Act.pdf

Credit Counselling Canada

From: Michelle P <mpommells@creditcounsellingcanada.ca>

Sent: June 10, 2021 4:32 PM

To: Westerink Robin, Sheila (IC) <sheila.westerinkrobin@canada.ca>

Subject: Assistance

Hi Sheila,

I wonder if you could assist me in getting the attached consultation submission to the correct department at the OSB?

The submission is open until June 10th, 2021 according to the website. However, I am getting a message stating the submission email address (ic.osbregulatoryaffairs-affairesreglementairesbsf.ic@canada.ca) is not valid.

The consultation page https://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/br04438.html states:

Please provide your feedback by June 10, 2021. Submissions are to be sent to OSB, Policy and Regulatory Affairs at ic.osbregulatoryaffairs-affairesreglementairesbsf.ic@canada.ca.

Much appreciated!

MICHELLE POMMELLS
CHIEF EXECUTIVE OFFICER

Credit Counselling Canada / Conseil en crédit du Canada 401 Bay Street, Suite 1600, Toronto, ON M5H 2Y4

T: 905.467.7669 | E: mpommells@creditcounsellingcanada.ca W: www.creditcounsellingcanada.ca

AttachmentResponse to OSB June10 Consultation FIN.pdf;

Harris & Partners

From: Jay Harris <jay@harrispartners.ca>

Sent: April 20, 2021 2:05 PM

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Millen, Nicholas (IC)

Subject: Response to Consultation

Attachments: Osb consultation comments April 20 2021.pdf

Importance: High

Dear Sirs:

On behalf of our firm we submit our comments. I would be happy to answer any further questions regarding our answers or any follow up.

Thank you.

Jay Harris

Jay T. Harris FCPA, FCA, CIRP

Managing Partner | Licensed Insolvency Trustee

T: 905-479-5712 | D: 647-725-4264 | F: 905-479-2346

W: www.harrispartners.ca

Attachment: Osb consultation comments April 20 2021.pdf

Hoyes, Michalos & Associates Inc.

From: Doug Hoyes

Sent: June 9, 2021 10:04:49 AM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Consultation Submission

Please find attached our submission for your comprehensive review of the Directives and Regulation. Please feel free to contact the undersigned if you have any questions or require additional information. Regards,

Douglas Hoyes, BA, CA, CPA, CIRP, LIT, CBV

Hoyes, Michalos & Associates Inc. Phone: 519-568-4020

Twitter: @doughoyes
Host, Debt Free in 30 Podcast http://www.hoyes.com/podcast/
Author, Straight Talk on Your Money, www.StraightTalkMoney.ca

Attachment: OSB Consultation Submission June 9 2021.pdf

Insolvency Institute of Canada

From: mcross@associationsfirst.com

Sent: June 8, 2021 8:26:56 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Pamela Huff - Past President; Bob Thornton - President

Subject: Insolvency Institute of Canada (IIC) Response Re: the OSB Comprehensive Review of Directives and Regulations under the BIA and the CCAA

Good evening,

I am writing today on behalf of the Insolvency Institute of Canada Policy Reform Committee and the Board of Directors in response to the invitation to provide comments on how to modernize and improve the regulatory framework, enhance the effectiveness of its administration, and increase accessibility to insolvency proceedings. We appreciate the opportunity to do so, and to that end, please find the IIC response attached.

Please don’t hesitate to contact us if you have any questions or if you require further clarification on any of the information provided.

Sincerely, Meghan Cross

Meghan Cross Executive Director Directrice exécutive
Insolvency Institute of Canada Tel: 416-646-1600 ext. 40
Cell: 613-898-3078

Attachment: IIC Policy Reform Submission - June 8, 2021.pdf

Jassmine Girgis

From: Jassmine Girgis <jgirgis@ucalgary.ca>

Sent: June 2, 2021 4:32 PM

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Submission on BIA and CCAA

My suggestion is to provide guidelines in the regulations or directives about the generalized good faith provisions in the legislation (CCAA s.18.6; BIA s.4.2). For example, the generalized duty allows any interested person to bring an application – is this limited to those with an economic interest in the proceedings, or does it extend to social stakeholders? Another example is that the duty is not limited to a particular proceeding or to a particular party.

I wrote on the duty in “A Generalized Duty of Good Faith in Insolvency Proceedings: Effective or Meaningless?” (2020) 64 Can Bus LJ 98.

Regards, Jassmine

---

Jassmine Girgis Associate Professor

Faculty of Law l University of Calgary jgirgis@ucalgary.ca l 403.220.7251

Kelly Chow

From: Kelly Chow

Sent: June 10, 2021 12:19:04 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Comments on National Licensing Model for LITs

Kelly Chow, LIT

Attachment: National License Comments.pdf

Ken Rowan & Associates Inc.

From: Ken Rowan

Sent: June 10, 2021 7:41:15 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Consultation response

Hello, please refer to the attached. Thank you. Sincerely,

Ken Rowan, Licensed Insolvency Trustee

KEN ROWAN & ASSOCIATES INC. #210, 2411 – 160 St, Surrey BC V3Z 0C8
ken@debtsgo.com
Tel: 604-531-4186
Fax 877-531-8096

Attachment: LT OSB re Rules and Forms.pdf

Ken Tessis

From: Ken Tessis

Sent: June 10, 2021 3:23:13 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Comprehensive review........ My personal submission

Ti the OSB -

  1. Please see my submission attached.
  2. Please acknowledge receipt. Thank you

Ken Tessis
416.258.6394

Attachment: KT submission to OSB June 10 2021.pdf

Marc Nantel-Legault

From: Marc Nantel-Legault

Sent: June 12, 2021 10:02:46 AM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Commentaires - Examen exhaustif des instructions et de la réglementation - Version amendée

Bonjour

Veuillez trouver une version amendée de ma lettre de commentaires dans le cadre de votre examen exhaustif des instructions et de la réglementation.

Veuillez accepter mes sincères salutations

Attachment: Consultation BSF_lettre par M Nantel_2021-06-10 amendée.pdf

MNP Ltd.

From: Grant Bazian

Sent: June 9, 2021 7:48:38 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: OSB comprehensive review of directives and regulations

Hello,

Please find attached a Consideration Document from MNP Ltd for your review. Best regards

Grant

Grant Bazian, CIRP, LIT

PRESIDENT MNP LTD

DIRECT 778.374.2108

604.639.0001
FAX 604.904.8628
CELL 604.754.6201
TOLL FREE 1.877.363.3437

1021 West Hastings Street Suite 1600 - MNP Tower Vancouver, BC
V6E 0C3

grant.bazian@mnp.ca
mnpdebt.ca

Attachment: MNP LTD Consideration Document - Final V2.pdf

Pierre Fortin

From: Julie Francoeur

Sent: June 9, 2021 4:04:06 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Pierre Fortin

Subject: Révision en profondeur des règles sur la faillite et insolvabilité

Bonjour,

Il nous fait plaisir de vous transmettre nos commentaires dans le cadre de la consultation publique. Si possible, un accusé réception serait apprécié.

Salutations distinguées, Pierre Fortin

Julie Francoeur
Adjointe de Pierre Fortin
T: 450-442-5015 poste 2233
JeanFortin.com

Attachment: Révision en profondeur des règles sur la faillite et insolvabilité par Jean Fortin_F2.pdf

Receivables Management Association of Canada Inc. 

From: Jeffery Pilon

Sent: June 10, 2021 10:10:35 AM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Patrick Dion; Fortin Louis

Subject: OSB Review of BIA and CCAA

Please find our submission as requested due today.

Jeffery Pilon

Receivables Management Association of Canada Inc. (RMA Canada) )/ Association Canadienne de la Gestion des Créances (ACGC)

President/Président
Mobile: 416-662-7506
www.rmacanada.org 

Attachment: FINAL_RMA_Submission to OSB_June2021.pdf

Rumanek & Company Ltd

From: Jordan Rumanek <Jordan@rumanek.com>

Sent: June 3, 2021 9:34 AM

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Submission by Rumanek & Company Ltd.

Good morning

Please find attached the Submission by Rumanek & Company Ltd. for the Comprehensive Review of Directives and Regulations

If you have any questions, please contact the sender

Jordan Rumanek, B. Comm., CIRP, LIT Licensed Insolvency Trustee | www.rumanek.com Tel: 416-665-3328 Ext. 305 | Fax: 416-665-9081

Rumanek & Company Ltd. is open, but working remotely. We will respond promptly to all emails and phone calls. Please stay safe, stay healthy and stay home.

Attachment: Submission_03Jun2021.pdf

Service Alberta

From: Lois Flynn <Lois.Flynn@gov.ab.ca>

Sent: June 2, 2021 3:53 PM

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Cc: Roger Grove; Martin Roy; Darren Thomas; Lee Chantal

Subject: RE: Notice to Stakeholders regarding a comprehensive review of directives and regulations under the BIA and the CCAA/Avis aux intervenants concernant un examen approfondi des instructions et règlements en vertu de la LFI et de la LACC

Thank you for the opportunity to provide feedback on the modernization of the Bankruptcy and Insolvency Act and the Companies’ Creditors Arrangement Act. As the Ministry responsible for the Consumer Protection Act and Debtors’ Assistance Act in Alberta, Service Alberta is pleased to provide input with respect to the links of the BIA to consumer protection.

With respect to the BIA, Service Alberta has identified two areas of concern:

  1. Misrepresentations, fraud, and fees with respect to insolvency proceedings and documentation Service Alberta regulates a range of credit related activities under the Consumer Protection Act, including

collections, debt repayment, and credit reporting. One of the recurring elements of concern raised by stakeholders and civil society groups that deal with individuals facing financial difficulty is the shadow industry that has developed around “debt counselling” and how much that links to “document preparation”.

Specifically, we have heard a range of allegations related to activities by third parties allegedly (and informally) associated with Licensed Insolvency Trustees who charge substantial fees to assist individuals in “preparing” their finances, documentation, and personal situations for potential bankruptcy filings. These documents are then provided to a recommended LIT who uses them, essentially as is, as part of the insolvency process. We recommend that the OSB explore limitations and requirements with respect to third party information and documentation and reporting requirements for LITs where a third party is effectively preparing insolvency materials that should be prepared by an LIT.

  1. Provision of the Orderly Payment of Debts program

As Alberta still provides individuals with access to the Orderly Payment of Debts program under the BIA (through the Debtors’ Assistance Act and delegation to Money Mentors), we recommend that you ensure that this program remains available and accessible for Albertans that are seeking an alternative to bankruptcy or consumer proposals.

Should you have any questions about this feedback or about the current legislative and regulatory frameworks in Alberta, please contact Darren Thomas, Manager, Market and Industry Standards, at darren.thomas@gov.ab.ca or 780 918 2690.

Thank you again for the opportunity to provide input.

Lois Flynn
Executive Director, Consumer Services
Consumer, Registry and Strategic Services Division (CRSS) Service Alberta

3rd Floor, Commerce Place, 10155-102 Street,
Edmonton AB T5J4L4

Shawn Stack

From: Shawn Stack

Sent: June 10, 2021 5:01:45 PM (UTC-05:00) Eastern Time (US & Canada)

To: OSB Regulatory Affairs / Affaires reglementaires BSF (IC)

Subject: Submission for Review of Directives and Regulations under teh BIA and CCAA

Please find attached my submission for consideration.

I appreciate all of the important and impactful work that the OSB is doing for our society.

If I can provide further information, assistance or commentary please reach out to me at shawnastack@gmail.com or at 403-540-3375.

All the best.

Shawn Stack shawnastack@gmail.com

Attachment: Submission for Review.docx