What is the Office of the Superintendent of Bankruptcy?
When you file for personal bankruptcy you will need to work with a trustee who is licensed by the OSB.
Popular FAQ Explained - What Does the Office of the Superintendent Do?
The OSB licenses, regulates and supervises bankruptcy trustees, maintains public records of bankruptcy proceedings, investigates complaints, reviews bankruptcy forms and establishes the professional standards for the industry. They also assist consumers with finding a trustee when someone needs to go bankrupt but isn’t able to afford the full cost of bankruptcy.
Personal Bankruptcy and Insolvency Records and Files - OSB Database
That the OSB office maintains records of bankruptcy and insolvency is a fact that many people aren't aware of. According to their website, the Bankruptcy and Insolvency Records database contains statistics on:
- Basic debtor information of all bankruptcies and proposals registered in Canada since 1978
- All receiverships registered with them office since January 1993
- All petitions recorded at their office
- All companies that have been granted protection under the Companies´ Creditors Arrangement Act (CCAA) since September 18, 2009
- Bankruptcy is a matter of public record, so the public may access the database for a fee. More information about public bankruptcy records, filings, online searches and fees can be found on the OSB website.
Bankruptcy Law in Canada - The Bankruptcy and Insolvency Act
The OSB is an agency within Industry Canada, which is part of the Federal Government. The Bankruptcy and Insolvency Act is the law in Canada governing the insolvency (bankruptcy) process.
Common Questions Related to the Superintendent and Legal Side of Bankruptcy
More Help and Information About Personal Bankruptcy and the OSB
If you are struggling to pay your debts and aren’t sure if you need to file for bankruptcy, get help determining your options. One of our Credit Counsellors will answer your questions and provide you with guidance and free information so that you can make an informed decision. Contact us today by phone at 1-888-527-8999, by email or chat with us online now. For additional details about the Superintendent of Bankruptcy, visit the OSB website.
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