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.
Bank of Nova Scotia
780 Main Street
Attention: The Manager
19 June 2001
Re: Directions of the Office of the Superintendent of Bankruptcy pursuant to Section 14.03 of the Bankruptcy and Insolvency Act
On April 30, 2001 your branch was served with the above referenced Directions for Conservatory Measures with respect to the bankruptcy and proposal estate trust bank accounts of J. G. Touchie & Associates Ltd.
The Directions named one of either Andrew Woodrow or Darrin Ulley as mandatory co-signatories over the funds deposited to the credit of bankruptcy and proposal estates administered by J. G. Touchie & Associates Ltd. These Directions further required that no payment, debit or transfer of funds from the subject trust accounts be effected without the countersignature of either Andrew Woodrow or Darrin Ulley.
This is to advise that, upon receipt of this letter, these Directions are hereby withdrawn.
Should you have any questions regarding this matter, please contact the undersigned.
Senior Analyst, Disciplinary Affairs
Office of the Superintendent of Bankruptcy
J. G. Touchie & Associates Ltd.
Alain Lafontaine, Deputy Superintendent of Bankruptcy
Marcel Gauvreau, Legal Counsel
Charles Walker, DAS, Halifax, NS
25 St. Clair Ave E, Room 600, Toronto, On, M4T 1M2. 416-973-6488