Organization Profile - Bankruptcy

Bankruptcy

Minister of Innovation, Science and Industry

The mission of the Office of the Superintendent of Bankruptcy is to provide an effective, cost-efficient and uniform national program that will ensure compliance with the Bankruptcy and Insolvency Act, to maintain a sound policy and regulatory base which permits adjustments to the law in response to changing conditions, and to encourage the participation of private-sector stakeholders in order to achieve efficiency in estate administration. The responsibilities of the Office of the Superintendent of Bankruptcy include: supervising the administration of estates in bankruptcy, commercial reorganizations, consumer proposals and receiverships; maintaining a publicly accessible record of bankruptcy and insolvency proceedings; recording and investigating complaints from creditors, debtors, and members of the general public regarding possible wrong doing by someone involved in the insolvency process; licensing of private sector trustees to administer estates and the appointment of administrators of consumer proposals; and setting and enforcing professional standards for the administration of estates.

Ottawa, Ontario

Bankruptcy and Insolvency Act
http://laws.justice.gc.ca/eng/acts/B-3/page-3.html#h-4

The Governor in Council shall appoint a Superintendent of Bankruptcy to hold office during good behaviour for a term of not more than five years, but the Superintendent may be removed from office by the Governor in Council for cause.

The Superintendent’s term may be renewed for one or more further terms.

The Superintendent shall be paid the salary that the Governor in Council may fix.