Superintendent’s Message of March 13, 2020 to LITs - Update
June 8, 2020
On March 13, 2020, the Superintendent of Bankruptcy issued a message to Licensed Insolvency Trustees (LIT) titled “Temporary Guidance for LITs During the COVID-19 Pandemic.” The noted message stated:
“The OSB recognizes the COVID-19 pandemic is an extraordinary circumstance and, until further notice, no separate approval will be required to conduct assessments using methods other than in-person. Where video-conferencing is not feasible, assessments may be performed via a combination of telephone discussion and email for document receipt.”
The Office of the Superintendent of Bankruptcy (OSB) has considered the merits of extending the option to conduct remote service delivery of assessments. As such, until March 31, 2021, no separate approval will be required to conduct assessments using methods other than in-person for those areas where LITs have an approved resident or non-resident office as per OSB records.
In order to ensure greater clarity and consistent interpretation, LITs must consider their ability to continue to provide adequate in-person services in the debtor’s locality as required, at no additional cost to the estate or the debtor.
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