Directive No. 8R12

The Bankruptcy and Insolvency Act Forms

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Date: March 3, 2011

The Office of the Superintendent of Bankruptcy (OSB) has amended Form 10, Application of Trustee for Discharge; Form 31, Proof of Claim; Form 37, Voting Letter (Division I Proposal); Form 49, Notice to Creditors of Consumer Proposal and Form 87, Notice and Statement of the Receiver. In addition, the OSB has created Form 37.1, Voting Letter (Consumer Proposal), which is only applicable to consumer proposals.

Form 10, Application of Trustee for Discharge

Form 10, Application of Trustee for Discharge, has been amended to clarify that in both bankruptcies and proposals submitted pursuant to Division I of the Bankruptcy and Insolvency Act (BIA), trustees are entitled to apply to the court for an order of discharge.

Form 31, Proof of Claim

The first two check boxes in paragraph 7 on Form 31, Proof of Claim, have been replaced by one check box. Whenever the trustee reviews the financial situation of a bankrupt to determine whether there have been changes to the bankrupt’s obligation to make payments under section 68 of the BIA, the creditor may request to be informed, pursuant to paragraph 68(4) of the BIA, of the new fixed amount or of the fact that there is no longer surplus income and that the bankrupt’s obligation to make payments under section 68 of the BIA no longer exists.

Form 37, Voting Letter (Division I Proposal)

Minor changes have been made to Form 37, Voting Letter (Division I Proposal), so that it is specific to proposals filed pursuant to Division I of the BIA.

Form 37.1, Voting Letter (Consumer Proposal)

Form 37.1, Voting Letter (Consumer Proposal), has been created to take into account specific provisions applicable to consumer proposals following the amendment to subsection 66.17(2) of the BIA by Chapter 47 of the Statutes of Canada (2005) and by Chapter 36 of the Statutes of Canada (2007). The amendment to subsection 66.17(2) simplified the process by eliminating the need to hold a meeting of creditors in cases where a dissent from the consumer proposal is received by the administrator. Thus, if the administrator is not required to call a meeting of creditors, the consumer proposal is deemed to have been accepted regardless of any dissent that may have been received.

To make creditors aware of the consequences of this amendment, the OSB created a new voting letter specific to consumer proposals enabling creditors to assent to or dissent from the proposal and to request that a meeting of creditors be held.

Form 49, Notice to Creditors of Consumer Proposal

Paragraph 3 of Form 49, Notice to Creditors of Consumer Proposal, has been changed to inform creditors that they may use Form 37.1, Voting Letter (Consumer Proposal), to assent to or dissent from the consumer proposal and to request that a meeting of creditors be held.

Form 87, Notice and Statement of the Receiver

A reference to subsection 246(1) of the BIA has been added to the French title of Form 87, Notice and Statement of the Receiver. This subsection was not referenced in the title of the French version of the form; yet, it appeared in the English version. Therefore, this amendment corrects an omission in the French title and ensures consistency between the French and English versions of Form 87.

Coming into Force

Amended Forms 10, 31, 37, 49 and 87 and new Form 37.1 come into force on September 23, 2011, and apply to persons to which the September 18, 2009, amendments apply.

Enquiries

If you require further information, please do not hesitate to contact the OSB office nearest you.

Issued: March 3, 2011

(This Directive amends Directive No. 8R11 issued on November 9, 2010, on the same topic.)

Interpretation

1. In this Directive,

“Act” means the Bankruptcy and Insolvency Act;

“Forms” means the forms under the Bankruptcy and Insolvency Act;

“OSB” means the Office of the Superintendent of Bankruptcy;

“Rules” means the Bankruptcy and Insolvency General Rules.

Authority and Purpose

2. This Directive is issued pursuant to the authority of paragraphs 5(4)(c) and (e) of the Act for the purpose of prescribing amendments to Form 10, Application of Trustee for Discharge; Form 31, Proof of Claim; Form 37, Voting Letter (Division I Proposal); Form 49, Notice to Creditors of Consumer Proposal and Form 87, Notice and Statement of the Receiver. This Directive also prescribes a new form, Form 37.1, Voting Letter (Consumer Proposal).

Summary

3. Form 10, Application of Trustee for Discharge, has been amended to clarify that in both bankruptcies and proposals submitted pursuant to Division I of the Bankruptcy and Insolvency Act (BIA), trustees are entitled to apply to the court for an order of discharge.

4. The first two check boxes in paragraph 7 on Form 31, Proof of Claim, have been replaced by one check box. Whenever the trustee reviews the financial situation of a bankrupt to determine whether there have been changes to the bankrupt’s obligation to make payments under section 68 of the BIA, the creditor may request to be informed, pursuant to paragraph 68(4) of the BIA, of the new fixed amount or of the fact that there is no longer surplus income and that the bankrupt’s obligation to make payments under section 68 of the BIA no longer exists.

5. Form 37.1, Voting Letter (Consumer Proposal), has been created to take into account specific provisions applicable to consumer proposals. This voting letter, which is specific to consumer proposals, enables creditors to assent to or dissent from the proposal, as well as to request that a meeting of creditors be held. Consequently, minor changes have been made to Form 37, Voting Letter (Division I Proposal), so that it is specific to proposals submitted pursuant to Division I of the BIA.

6. Paragraph 3 of Form 49, Notice to Creditors of Consumer Proposal, has been changed to inform creditors that they may use Form 37.1, Voting Letter (Consumer Proposal), to assent to or dissent from the consumer proposal and to request that a meeting of creditors be held.

7. A reference to subsection 246(1) of the BIA has been added to the French title of Form 87, Notice and Statement of the Receiver. This subsection was not referenced in the title of the French version of the form; yet, it appeared in the English version. Therefore, this amendment corrects an omission in the French title and ensures consistency between the French and English versions of Form 87.

Coming into Force

8. Amended Forms 10, 31, 37, 49 and 87 and new Form 37.1 come into force on September 23,  2011, and apply to persons to which the September 18, 2009, amendments apply.

Enquiries

9. For any questions pertaining to this Directive, please contact your local OSB office.

James Callon
Superintendent of Bankruptcy

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