December 20, 2021
The Office of the Superintendent of Bankruptcy (OSB) has amended Directive No. 6R3, Assessment Of An Individual Debtor, to allow Licensed Insolvency Trustees (LITs) to conduct assessments in person or by videoconference, without prior OSB approval. To do so, LITs must provide full disclosure to the debtor that the assessment may be completed in person or by videoconference, as well as the location at which the in-person assessment would take place. With this information, the debtor can make a fully informed choice between assessment in person or by videoconference.
The OSB has made a corresponding amendment to Directive No. 1R6, Counselling in Insolvency Matters, to allow LITs to provide, or provide for, the delivery of insolvency counselling in person or by videoconference.
This amendment follows, expands upon, and adds permanency to prior temporary measures put in place by the OSB, which allowed LITs to conduct assessments and counselling by videoconference to facilitate physical distancing during the COVID-19 pandemic. Allowance for assessments by videoconference also supports the modernization aspect of the OSB’s Comprehensive Review of Directives and Regulations.
Please note that Directive No. 28R, Non-Resident Office; Directive No. 13R7, Trustee Licensing; and all rules surrounding LIT licence extensions to additional provinces and territories remain in effect.
Directive No. 6R4, Assessment of An Individual Debtor, and Directive No. 1R7, Counselling in Insolvency Matters, come into force on January 1, 2022. The amended Assessment Certificate will come into force on April 30, 2022.
If you require further information, please do not hesitate to contact the OSB office nearest you.