Announcement - New Designation for Insolvency Professionals

Announcement - New Designation for Insolvency Professionals

On December 2, 2015 the Office of the Superintendent of Bankruptcy Canada released Directive 33, Trustee Designation and Advertising, updating the designation to be used by Licensed Trustees with regards to the advertisement, promotion and communications related to their services.  All trustees holding a valid license will now adopt the professional designation “Licensed Insolvency Trustee”, which replaces the previous designation of “Licensed Trustee in Bankruptcy”.

The updated designation is welcome news for insolvency professionals as it better captures the broad range of services and level of expertise we offer to our consumer and corporate clients.  Consumers often think that we only provide bankruptcy services and there is a negative connotation to the "bankruptcy" word that can lead consumers to seek out other options, such as unlicensed and unregulated debt settlement firms and for-profit credit counselling agencies.  When that happens, the consumer does not always receive the professional advice and expertise they would otherwise receive if they had reached out to a Licensed Insolvency Trustee.

At Powell Associates Ltd. we are focused on helping financially distressed individuals and businesses by providing practical advice and realistic solutions tailored to meet your specific circumstances.   Contact us to discuss your situation over the phone or book an appointment to meet us face-to-face in Saint John, Moncton, Fredericton or Charlottetown - it's your choice.