Reminder re Notifications of Bankruptcy
Members and students are reminded that they are required to notify the Law Society immediately upon:
- ) receipt of a petition under the Bankruptcy and Insolvency Act in which the court is asked to make a receiving order with respect to the property of the member;
- ) the making by the member of an assignment under the Bankruptcy and Insolvency Act; and
- ) the making by the member of a proposal under the Bankruptcy and Insolvency Act.
Where one of these events occurs, the member’s or student’s entitlement to engage in the practice of law is suspended pending review by the Executive Committee. Further, members are not permitted to accept from or on behalf of clients money or other property, except in payments of costs and fees, without written permission of the Executive Director and then only on such terms imposed by the Executive Director.
Notification at the earliest opportunity is key to mitigating any interruption in practice. Where possible, members are encouraged to notify the Law Society in advance of the event(s) occurring.