The Licensed Insolvency Trustee brought four motions seeking court approval for advances of remuneration in four ordinary administration bankruptcies prior to obtaining a Letter of Comment from the Office of the Superintendent of Bankruptcy (OSB) and proceeding to taxation.
The OSB opposed the motions, arguing they were premature and contrary to jurisprudence.
The court granted the motions in part, allowing an advance of 75% of the fees earned to date, noting that OSB Directive 27R permits court approval of advances and that the COVID-19 pandemic created exceptional cash flow challenges for trustees operating as essential services.
