Bankruptcy and Insolvency General Rules

The Bankruptcy and Insolvency General Rules

These rules provide guidelines for the administration of bankruptcy and insolvency proceedings in Canada. The definition of key terms such as "Act", "Division Office", "judge", "registrar", and "taxing officer" are outlined, as well as the prescription of a stock exchange regulated by an Act of Parliament or provincial legislature.

Key Provisions

• Documents prescribed by the Act must be in the form prescribed, with modifications if necessary.
• If a period of less than six days is provided for doing an act or initiating a proceeding, calculation does not include Saturdays or holidays.
• A notice or document received outside business hours is deemed to have been received on the next business day.
• Every notice or other document given or sent pursuant to the Act or these Rules must be served, delivered personally, or sent by mail, courier, facsimile, or electronic transmission.

Court Proceedings

• All proceedings used in court must be dated and entitled in the name of the court, together with the words "in Bankruptcy and Insolvency".
• Every document used in the filing of a bankruptcy application or proposal before bankruptcy must be entitled accordingly.
• A warrant issued under the Act must be executed by the executing officer.

Costs and Taxation

• All bills of costs for legal services exceeding $2,500 must be taxed by the taxing officer.
• A decision of a taxing officer on the taxation of a bill of costs may be appealed to the court.

Appeals

• An appeal from an order or decision of the registrar must be made by motion to a judge.
• An appeal to a court of appeal referred to in subsection 183(2) of the Act must be made by filing a notice of appeal at the office of the registrar of the court appealed from.

Official Receiver

• The official receiver may request instructions from the registrar or, if the official receiver is the registrar, from the judge, in case of doubt respecting any matter arising out of the Act, these Rules, or a directive.

Code of Ethics for Trustees

• Every trustee shall maintain high standards of ethics and perform their duties in a timely manner.
• Trustees shall cooperate fully with representatives of the Superintendent and provide full and accurate information as required by the Act.