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![]() Directions to the Bank of Nova Scotia, P.O. Box 4234, STN A, Toronto, Ontario M5W 5P6- Local Branch: 544 Scotia Bank, 544 Hespeler Road, Cambridge, Ontario N1R 6J8Canada In the matter of:
Directions for Conservatory Measures 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 Martin Daniel Bell (the trustee) is the holder of an individual license as trustee in bankruptcy; Whereas Graham Mathew Inc. is the holder of a corporate license; Whereas an investigation made by the Superintendent pursuant to section 5(3)(e) of the Act revealed that the trustee had a number of deficiencies in the control of estate trust funds and estate administrations; Whereas the Acting Superintendent of Trustee Compliance and the Senior Bankruptcy Analyst have learned that:
Whereas the trustee has failed to deposit forthwith in an estate trust all funds received for an estate, and
Whereas a June 2007 practice review by the Senior Bankruptcy Analyst of the trustee’s books and records revealed that the trustee was drawing fees prior to obtaining proper authorization. Whereas I believe on reasonable grounds that the estates require protection; Whereas the Superintendent may, for the protection of an estate, exercise the powers set out in subsection 14.03(1) of the Act, in the circumstances referred to in section 14.03(2) of the Act; Whereas the Superintendent has delegated to me, in accordance with section 14.01(2) of the Act, the powers of the Superintendent as specified at section 14.03(1) of the Act, in the circumstance referred to in section 14.03(2)(b), a copy of which delegation is attached, along with copies of sections 14.01, 14.02 and 14.03 of the Act; I, William Webster, in my capacity as delegate for the Superintendent, direct the Bank of Nova Scotia (P.O. Box 4234, STN A, Toronto, Ontario M5W 5P6), pursuant to sections 14.03(1)(b) of the Act:
That these directions replace those dated August 24, 2007 that were previously delivered to you. That these directions take effect immediately and will stay in place until such time as the undersigned is satisfied that the estates no longer require protection; That in accordance with section 14.03(3) of the Act, these directions bind the Bank of Nova Scotia (Scotia Bank), which must comply with them; That, pursuant to section 14.03(4) of the Act, a person who complies with this direction is not liable for any act done by that person only to comply with this direction. Signed at the City of London Ontario, this 6th day of September 2007. William Webster |
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Created: 2007-10-16 Updated: 2007-10-22 ![]() |
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