February 9, 2021
Implementation of a second fee adjustment pursuant to the Service Fees Act will take effect on March 31, 2021. Increases will come into effect for the following:
- Filing fees
- Licence renewal fees
- Licence application fees
- Levy for Summary Administrations
Licensed Insolvency Trustees (LIT) may need to update their software prior to March 31, 2021, in order to have these fees (filing and levy) implemented. LITs may wish to communicate with their vendors to coordinate the necessary steps required to upgrade their software in a timely manner.
The fees above will increase annually by a pre-determined amount based on the Consumer Price Index. The next fee adjustment by the Office of the Superintendent of Bankruptcy will take place on March 31, 2022.
For additional information, please see our website:
What you need to know about the upcoming fee changes