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In April 2016, Trustees in Bankruptcy will be getting a new name, but not a new job. The Office of the Superintendent of Bankruptcy (OSB) announced in June that trustees will be referred to as Licensed Insolvency Trustees (LITs), and with the change there will be greater clarity around exactly what they do. Trustees in [...]

Over the summer, it was reported that the Office of the Superintendent of Bankruptcy (OSB), the federal government agency that regulates the handling of insolvency in Canada, would be changing the way we refer to bankruptcy trustees. As of April 2016, instead of Trustee in Bankruptcy, trustees will be called Licensed Insolvency Trustees (LITs). [...]