Bankruptcy and Insolvency Act

Marginal note:Duty of former trustee on substitution

• 36 (1) On the appointment of a substituted trustee, the former trustee shall forthwith pass his accounts before the court and deliver to the substituted trustee all the property of the estate, together with all books, records and documents of the bankrupt and of the administration.

• Marginal note:Duty of substituted trustee

  (2) A substituted trustee shall

  • (a) [Repealed, 1992, c. 27, s. 14]

  • (b) if appointed by the creditors, file with the court a copy of the minutes of the meeting signed by the chairman;

  • (c) notify the Superintendent of his appointment;

  • (d) if required by the inspectors, register a notice of the appointment in the land register of any land titles or registry office where the assignment or receiving order has been registered; and

  • (e) as soon as funds are available, pay to the former trustee his remuneration and disbursements as approved by the court.