Directions to the Royal Bank of Canada—April 1, 2020

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.

CANADA

Directions to the Royal Bank of Canada
1260 boul. Lebourgneuf, Quebec, Quebec, G2K 2G2
(April 1, 2020)

In the matter of:
Jean Lelièvre and
Jean Lelièvre Syndic


Directions for Removal 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 Jean Lelièvre is the holder of an individual licence as trustee under the Act (3079);

Whereas Jean Lelièvre Syndic is the holder of a corporate licence as trustee under the Act (3682);

Whereas Jean Lelièvre carries out his professional activities within Jean Lelièvre Syndic ;

Whereas to ensure the practices of the various trustees across the country are compliant, the Superintendent carries out monitoring activities to ensure that trustees administer files in accordance with legal requirements and carry out their responsibilities with care and diligence;

Whereas, on October 24, November 19 and 20, 2019, the Office of the Superintendent of Bankruptcy (OSB) conducted a visit of the trustee’s office in relation to the compliance of the trustee's practices regarding advances on the trustee’s fees;

Whereas on December 2, 2019, I, Samra Rabie, to whom the Superintendent had delegated the powers of the Superintendent set out at subsection 14.03(1) of the Act, issued the following directions for conservatory measures to the Royal Bank of Canada branch located at 1260 boul. Lebourgneuf, Quebec City, Quebec, G2K 2G2, to:

  1. provide, by the close of business on December 2, 2019, a list of all trust accounts (including the balance of each account as of December 2, 2019) in the name of Jean Lelièvre and Jean Lelièvre Trustee, trustee in bankruptcy, under their control or administered by them, to Louis Nolet, CPA, CA, Assistant Superintendent, Office of the Superintendent of Bankruptcy, 1550 avenue d'Estimauville, Suite 702, Quebec City, Quebec, G1J 0C4; 
  1. make no debit, payment or transfer of funds credited to, or which ought to have been credited to, the estates of bankruptcies and proposals administered by Jean Lelievre & Jean Lelièvre Syndic, without these cheques, debits, payments or transfers being countersigned by Mr. Louis Nolet, CPA, CA, Assistant Superintendent, or Ms. Lyne Larocque, Senior Bankruptcy Analyst, or Ms. Johanne Picard, Senior Bankruptcy Analyst; 
  1. not pay out of these accounts any cheques, bills of exchange, bank drafts or other instruments, issued before the receipt of these directions which are presented for payment after the receipt of these directions without these cheques, bills of exchange, bank drafts or other instruments, being countersigned by Mr. Louis Nolet, CPA, CA, Assistant Superintendent, or Ms. Lyne Larocque, Senior Bankruptcy Analyst, or Ms. Johanne Picard, Senior Bankruptcy Analyst; 

Whereas the OSB has instituted administrative measures to monitor Jean Lelièvre and Jean Lelièvre Syndic, trustees under the Act;

Whereas the Superintendent of Bankruptcy 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 circumstance 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, Samra Rabie, in my capacity as delegate for the Superintendent, remove the direction for conservatory measures dated December 2, 2019, issued to the Royal Bank of Canada branch located at 1260 boul. Lebourgneuf, Quebec City, Quebec, G2K 2G2.

That in accordance with subsection 14.03(3) of the Act, these directions bind the Royal Bank of Canada, who must comply with them. 

That 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 at the City of Montreal, in the province of Quebec, this 1st day of April 2020.

 

Samra Rabie
Regional Director, Office of the Superintendent of Bankruptcy