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COVID-19 – Accomodations on payment timetables for insolvency proposals when Revenu Québec is the majority creditor: May 15

This is an unofficial translation. Please consult the official letter in French.

May 15, 2020

Notice to the Office of the Superintendent of Bankruptcy and to Licensed Insolvency Trustees

Due to the exceptional situation entailed by COVID-19, Revenu Québec has implemented measures to facilitate matters for citizens and businesses experiencing financial difficulties, notably by being open and flexible with regards to the usual length of payment agreements in connection with tax debts.

On this point, many taxpayers and mandataries who filed a proposal pursuant to the Bankruptcy and Insolvency Act (BIA) that is in the process of being completed, currently find themselves in a precarious financial situation and are struggling to respect the payment terms under their proposal, due to a loss of employment or a reduction in income in connection with COVID-19.

To assist them in the context of this health emergency, Revenu Québec has decided to implement the following measures when it is the majority creditor of a debtor, who is unable to make the payments under the terms of their proposal and who requests a delay:

  • For a proposal under Division I of Part III of the BIA that is in default, including a default in connection with a payment under subsection 60(1.1) of the BIA,  Revenu Québec will disregard the default and will provide an extension on payments for the months of May to August 2020, up to September 1, 2020, without it being necessary to the trustee to satisfy the requirements under section 62.1 of the BIA;
  • For a consumer proposal under Division II of Part III of the BIA, Revenu Québec agrees to the filing of an amendment to the proposal that provides for an extension on payments of May to August 2020, up to September 1, 2020, to avoid the application of section 66.31 of the BIA.

In addition, we inform you that, as needed, Revenu Québec could participate in a creditors’ meeting using telecommunication technology pursuant to Directive No. 22R2, Proofs of Claim, Proxies, Quorums and Voting at Meetings of Creditors of the Office of the Superintendent of Bankruptcy, notably in order to adjourn a creditors’ meeting or to accept as the case may be, waiving a default or an amended proposal seeking an extension on payments up to September 1, 2020.

By doing so, Revenu Québec implements everything possible as a majority creditor, to ensure that the process of redress for citizens and businesses in financial difficulty who had recourse to the BIA may continue, notably to avoid their becoming bankrupt.

Questions and Information

Citizens and businesses : Please contact your licensed insolvency trustee.

LIT: Please contact the Conseil des syndics autorisés en insolvabilité du Québec by phone (1-888-420-4288) or by email.

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