André Gabbay et Associés Inc. offers free consultations in complete confidentiality. They are located at 625 Boulevard René-Lévesque Ouest Montréal, QC H3B 1R2 (514) 398-9850. For more information, visit http://www.agabbayetassocies.com/?lang=en.

1. How to Become a Bankruptcy Trustee

2. Anyone who finds themselves in the
position of having to file for bankruptcy
will have to deal with a bankruptcy
trustee. The bankruptcy trustee is a
source of knowledge and guidance, and
is an invaluable part of the whole process.

3. What Is a Bankruptcy Trustee?
A bankruptcy trustee is a person who has been licensed
by the Superintendent of Bankruptcy in Canada to work
with insolvent people and administer bankruptcies.
The bankruptcy process tends to move along more
smoothly when a bankruptcy trustee in Montreal is
involved. Bankruptcy is a stressful time for most
people, so having an expert helping you makes things a
lot easier.

4. Bankruptcy Trustee Job Description
The primary duty of a bankruptcy trustee Montreal is to
file for bankruptcy on your behalf. However, that isn’t all
they do. A trustee will also:
• Manage and sell your assets when necessary
• Deal with your creditors so you don’t have to
• Provide debt counseling
• Advise you on the best course of action
• Help construct a plan to get you back on track

5. How to Become a Bankruptcy Trustee
Becoming a bankruptcy trustee is not a simple process.
Every bankruptcy trustee must meet very strict
guidelines in order to be licensed by the Superintendent
of Bankruptcy.
There are several prerequisites to meet and follow up
criteria in order to hold this important distinction.

6. Prerequisite Qualifications
In order to even be considered as a potential
bankruptcy trustee Montreal candidate, you must first
have either a university degree or at least five years of
relevant job experience.
Anyone without either of these prerequisites likely won’t
be allowed to continue on with the process. The
position of bankruptcy trustee is taken seriously by the
government and getting off to a good start is imperative.

7. Trustee Certification
In order to be certified as a bankruptcy trustee, each
candidate must successfully complete the CIRP
Qualification Program. This program was designed by
the Canadian Association of Insolvency and
Restructuring Professionals, and an exam must be
written and passed at the the end of the program.
If you pass the written exam, you may be invited to take
the oral exam. You also have to take the Insolvency
Counsellor’s Qualification Course, and you must not
have been bankrupt yourself within the past five years.

8. Investigations
As part of the ‘becoming a bankruptcy trustee’ process,
the Superintendent also carries out detailed
investigations on each candidate. He wants to ensure
that all of the information provided is true, and that
issuing a license won’t diminish the public’s view of the
bankruptcy process.
An oral exam is the final determination of whether a
candidate has the necessary knowledge, skills and
professionalism to perform the job.

9. Reputation
It is up to the Superintendent to determine whether or
not a candidate has the reputation and character to be a
successful bankruptcy trustee. This determination is
based partially on the information provided by the
candidate and the investigation carried out by the
Superintendent.
If the Superintendent feels that a candidate has a
questionable reputation or character, it can influence
whether or not a license is issued.

10. Suitability
Along with the prerequisites and reputation, the
suitability to do the job right is a key factor. This is
determined during the oral examination, which is held
by the Office of the Superintendent of Bankruptcy one
time each year.
Suitability covers areas such as judgment,
understanding, knowledge, ethical standards and
professionalism.

11. Advice
• André Gabbay et Associés Inc. offers free consultations
in complete confidentiality. They are located at 625
Boulevard René-Lévesque Ouest Montréal, QC H3B
1R2 (514) 398-9850. For more information, visit
http://www.agabbayetassocies.com/?lang=en.