Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698925301828.pdf (Trinidad and Tobago)
LegalSupplementPartB–Vol.53,No.77–27thMay,2014 401 LEGAL NOTICE NO.

232 REPUBLIC OF TRINIDAD AND TOBAGO THE BANKRUPTCY AND INSOLVENCY ACT, 2006 REGULATIONS MADE BY THE MINISTER UNDER SECTION 268 OF THE BANKRUPTCY AND INSOLVENCY ACT AND SUBJECT TO NEGATIVE RESOLUTION OF PARLIAMENT THE BANKRUPTCY AND INSOLVENCY REGULATIONS, 2014 PART I PRELIMINARY 1.

These Regulations may be cited as the Bankruptcy and Citation Insolvency Regulations, 2014.

2.
In these Regulations– Interpretation “contributor” means a person who is liable to contribute unpaid amounts under section 67 of the Act; “counselling” means assisting and educating an individual bankrupt or his immediate family on good financial management, including prudent use of consumer credit and budgeting principles, and development of successful strategies for achieving financial goals and overcoming financial setbacks, and, where appropriate, making referrals with respect to non-budgetary causes of insolvency including gambling, addiction and marital and family problems; “immediate family” means a spouse or cohabitant or child of an individual; “professional engagement” means any appointment or designation of a trustee for the purposes of any bankruptcy or insolvency matter; “relevant experience” means experience in consumer bankruptcy, commercial bankruptcy, receivership, insolvency, restructuring or liquidation of a business, or other related work in audit, tax, accounting or forensic accounting; “retirement pension” means income set aside for retirement purposes from any source including state pension, occupational pension, a personal pension plan or a group pension plan; 402 BankruptcyandInsolvencyRegulations,2014 Forms Schedule 1 Fees Schedule 2 Service or sending of documents “taxing officer” means an officer appointed by the Court for taxing purposes; and “taxing order” means an order made by a taxing officer.
3.

The forms required for the purposes of the Act are set out in Schedule 1.

4.

The fees payable under the Act are set out in Schedule 2.

5.

(1) Unless otherwise provided for in the Act, every notice or other document required to be served shall be served personally and every notice or other document required to be sent shall be delivered personally or sent by mail, courier, facsimile or electronic transmission.
(2) Where a trustee or receiver gives or sends a notice or other document he shall obtain proof that the notice or other document was given or sent and shall retain the proof in his files.

(3) An assignment, proposal or notice of intention that is offered, lodged or filed respectively, pursuant to the Act, shall be offered, lodged or filed by service, personal delivery, mail, courier, facsimile or electronic transmission.

PART II INTERIM RECEIVER Taxation accounts and discharge of interim receiver 6.
(1) An interim receiver shall apply to the Court for taxation of accounts and discharge within two months of completion of his duties.

(2) An interim receiver shall give at least five days’ notice of the application to– (a) the debtor, or in the case of a bankruptcy, the trustee; Form 1 Form 2 (b) each creditor; and (c) the Supervisor.
(3) The notice referred to in subregulation (2) shall– (a) be in the form set out in Schedule 1; and (b) have attached a copy of the interim receiver’s statement of receipts and disbursements in the form set out in Schedule 1.
(4) The interim receiver shall submit a statement identifying– (a) the number of hours spent on the matter, the tasks performed, his hourly rates and such other factors as are necessary for consideration in the calculation of fees; and (b) the expenses incurred by the interim receiver, and include a copy of any bills of costs for legal services.

BankruptcyandInsolvencyRegulations,2014 403 7.


(1) A person referred to in regulation 6(2)(a) or (b) may object to the taxation of the accounts and discharge of the interim receiver by filing a notice of objection with the Court within thirty days of receipt of the notice referred to in regulation 6(2).

(2) The notice of objection referred to in subregulation (1) shall be in the form set out in Schedule 1.
Objection to taxation of accounts or discharge of interim receiver Form 3 (3) Where a person files an objection he shall send a copy of the objection to the interim receiver within the thirty days’ period referred to in subregulation (1) and the interim receiver shall, within ten days of receipt of the objection, apply to the Court for a date for a hearing, and shall send a notice of the date of the hearing to the person who filed the objection.
(4) Where no objection is filed, the accounts of the interim receiver are deemed to have been taxed and he is deemed to be discharged, unless the court requires that the accounts be taxed on their own merit.

(5) The Court, at the hearing, shall tax the interim receiver’s accounts, and may discharge the interim revceiver and the interim receiver shall send a copy of the order of the Court relating to the taxation and discharge to the Supervisor.

PART III SECURED CREDITORS AND RECEIVERS 8.


The notice of intention to enforce a security pursuant to section 13(1) of the Act shall be in the form set out in Schedule 1 and shall be served or sent by registered mail or courier or, where the parties so agree, by electronic transmission.

Notice of intention to enforce a security Form 4 9.
(1) Where a person has been appointed as a receiver pursuant to the Act, the notice of his appointment shall be in the form set out in Schedule 1 and accompanied by the fee set out in Schedule 2.

Notice of appointment of receiver Form 5 Schedule 2 (2) The notice of the appointment of a receiver shall be published in at least two newspapers in daily circulation in Trinidad and Tobago in the form set out in Schedule 1.

Form 6 10.
The statement a receiver is required to prepare pursuant to section 14(e) of the Act shall be in the form set out in Schedule 1 and shall contain the following information: Statement of receiver Form 5 (a) the name of each creditor of the insolvent person or bankrupt; 404 BankruptcyandInsolvencyRegulations,2014 (b) the amount owing to each creditor; (c) the total amount owing to creditors; (d) a list of the property in the possession or under the control of the receiver and the book value of each item; (e) the receiver’s intended plan of action during the receivership, where such a plan has been determined; and (f) any other additional information as may be required by the Supervisor.
Interim reports of receiver 11.
For the purposes of section 14(f) of the Act, interim reports relating to a receivership shall be prepared by the receiver at least once every six months and shall include– Form 2 (a) a statement of receipts and disbursements in the form set out in Schedule 1; (b) a statement of all property of which the receiver has taken possession or control that has not yet been sold or realized; (c) information related to the anticipated completion of the receivership; and (d) any other substantial information relating to the receivership.
Final report and statement of accounts of receiver 12.
The final report and statement of accounts that a receiver is required to prepare pursuant to section 14(g) of the Act shall contain the following information: Form 2 (a) a final statement of receipts and disbursements in the form set out in Schedule 1; (b) details of the manner of distribution of the proceeds realized from the property of which the receiver had taken possession or control; and (c) details of the disposition of any property of which the receiver had taken possession or control and which is not accounted for in the final statement of receipts and disbursements.
Notice of disposition of collateral Form 7 13.

The notice of disposition of collateral required under section 18 of the Act shall be in the form set out in Schedule 1 and shall be served, or sent by registered mail or courier, or, where the parties so agree, by electronic transmission.

BankruptcyandInsolvencyRegulations,2014 405 PART IV ASSIGNMENTS 14.

An assignment made under section 25(1) of the Act shall be in the form set out in Schedule 1.

15.
15.

Where the Supervisor appoints a trustee pursuant to section 25(4) of the Act, the Supervisor shall in addition to inserting the name of the trustee on the assignment, prepare a certificate of appointment of the trustee in the form set out in Schedule 1 and furnish the trustee with a copy of the certificate.

Assignment Form 8 Appointment of trustee Form 9 16.
On receiving a statement of affairs from a bankrupt, in the respective forms set out in Schedule 1, a trustee shall file a copy of it at the Office of the Supervisor.

Statement of Affairs Form 10 Form 11 PART V PROPOSALS 17.
A trustee shall file a copy of the following documents with the Court as soon as they are filed with the Supervisor: Reports to be filed with Court (a) the proposal; (b) the cash-flow statement, the report on the reasonableness of the cash-flow statement and the report containing the representations by the insolvent person required by section 26(14)(a),(b) and(c) of the Act; (c) the material adverse change report required by section 26(18)(a)(i) of the Act; (d) the report on the state of the insolvent person’s business and personal financial affairs required by section 26(18)(b) of the Act; (e) the notice of intention referred to in section 30(1) of the Act; (f) the cash-flow statement required by section 30(2)(a) of the Act; (g) the report on the reasonableness of the cash-flow statement, required by section 30(2)(b) of the Act; (h) the report containing the representations by the insolvent person required by section 30(2)(c) of the Act; (i) the material adverse change report required by section 30(7)(b)(i) of the Act; and (j) the notice of the meeting of creditors required by section 32(1)(a) of the Act.
406 BankruptcyandInsolvencyRegulations,2014 Proof of secured claim Form 12 18.

A proof of secured claim required by section 27 of the Act shall be in the form set out in Schedule 1.

Notice of intention to make proposal Form 13 19.

(1) Where an insolvent person wishes to file a notice of intention to make a proposal, pursuant to section 30(1) of the Act, the notice shall be in the form set out in Schedule 1.
(2) Where the insolvent person files the notice of intention he shall, pursuant to section 30(2) of the Act, file– Form 14 Form 15 (a) a report on the reasonableness of the cash-flow statement as set out in Schedule 1; and (b) a report on the cash-flow statement as set out in Schedule 1.

Form 16 be in the form set out in Schedule 1.

(3) The report required under section 30(8)(b) of the Act shall Form 17 of the Act shall be in the form set out in Schedule 1.
(4) The certificate of assignment referred to in section 30(8)(b) Meeting of creditors Form 18 Form 12 Form 19 Form 20 Refusal of proposal Form 21 Form 22 20.

The notice of the meeting of creditors, claim form, proxy letter and voting letter required under section 32(1) of the Act shall be in the respective forms set out in Schedule 1.

21.
21.

(1) Where a proposal is refused pursuant to section 38(b) or section 43(2)(b) of the Act the report required to be filed by the trustee shall be in the respective forms set out in Schedule 1.

Form 23 be in the form set out in Schedule 1.

(2) The certificate required under section 38(b) of the Act shall Form 24 shall be in the form set out in Schedule 1.

(3) The certificate required under section 43(2)(b) of the Act Default in performance of proposal 22.
For the purposes of section 45 of the Act– (a) an insolvent person shall remedy a default in the performance of any provision in a proposal within thirty days after the day on which the default was made; and (b) a trustee shall inform the Supervisor and all creditors of the default within fifteen days of the expiration of the period referred to in paragraph(a).

Annulment of proposal Form 25 23.


(1) Where the Court annuls a proposal pursuant to section 46(6) of the Act, the report required to be filed by the trustee shall be in the form set out in Schedule 1.

BankruptcyandInsolvencyRegulations,2014 407 (2) The certificate required under section 46(6) of the Act shall be in the form set out in Schedule 1.

24.
For the purposes of section 49 of the Act, “eligible financial contract” includes– Form 26 Eligible financial contract (a) an agreement relating to financial collateral, including any form of security or security interest in financial collateral and a title transfer credit support agreement, with respect to any agreement referred to in section 49(8)(a) to(m) of the Act; (b) a guarantee of, or an indemnity or reimbursement obligation with respect to, the liabilities under an agreement referred to in section 49(8)(a) to (m) of the Act; and (c) a total return swap, price return swap or default swap agreement.
25.

The certificate required under section 50 of the Act shall be in the form set out in Schedule 1.

Certificate of performance Form 27 PART VI PROPERTY OF THE BANKRUPT 26.
For the purposes of section 52 of the Act, the following property is exempt from execution or seizure: Exempt property (a) personal items and clothing to satisfy basic domestic needs; (b) permanent home of the debtor provided that the home is not subject to a security agreement with a secured creditor; (c) household furniture, food and equipment to satisfy basic domestic needs in the permanent home of the debtor; (d) tools necessary for the bankrupt to undertake his profession; (e) retirement pension from any source or combination of sources, subject to regulation 28; and Chap.
32:02 (f) maintenance received by the debtor pursuant to an order of the Court for the support of his immediate family to satisfy their basic needs.

27.

(1) For the purposes of section 53(1) of the Act, the debtor shall submit a statement of monthly income and expenditure to the trustee, upon his request, in the form set out in Schedule 1.
Statement of income and expenditure Form 28 (2) An amended statement of monthly income and expenditure shall be immediately submitted to the trustee upon the occurrence of any material changes in the personal or family situation of the bankrupt.

408 BankruptcyandInsolvencyRegulations,2014 Standards for determining reasonable standard of living 28.
For the purposes of section 53(1) of the Act, the following factors shall be taken into account in determining the portion of the income of an individual bankrupt that exceeds that which is necessary to maintain a reasonable standard of living: (a) the size of the bankrupt’s family and the number of his dependants; (b) the reasonable medical expenses of the bankrupt and his dependants; (c) the reasonable education expenses of the bankrupt’s dependants; (d) the reasonable household expenses of the bankrupt necessary to satisfy basic domestic needs; and (e) the minimum wage established under the Minimum Wages Chap.
88:04 Act.

PART VII MEDIATION Application of Part Parties to mediation 29.

This Part applies to mediation that is to be conducted under the Act.

30.

For the purposes of mediation– (a) the bankrupt and the trustee are always to be parties to the mediation; (b) the trustee may act either personally or through a representative; and (c) a creditor who requests mediation is a party to the mediation.

Designation of mediator Chap.

5:32 31.


(1) For the purpose of conducting mediation, the Supervisor shall designate as a mediator, a certified mediator under the Mediation Act.
(2) Where the Supervisor deems that a person referred to in subregulation (1) is not available, the Supervisor shall consult the Mediation Board of Trinidad and Tobago and appoint such other suitably qualified person, provided that such person agrees to be bound by the Code of Ethics contained in the First Schedule of the Mediation Act.

Request to mediation Form 29 32.

The request for mediation made by the trustee under the Act shall be in the form set out in Schedule 1.
BankruptcyandInsolvencyRegulations,2014 409 33.

(1) Upon the receipt of a request for mediation, accompanied by the most recent income and expense statement of the bankrupt in the form set out in Schedule 1, the Supervisor shall refer the matter to a certified mediator within five days of receipt of the request.

Referral to mediator Form 28 (2) The mediator shall set the time and place for conducting the mediation.
(3) The mediation shall be completed within forty-five days of the receipt of the request for the mediation by the Supervisor.

34.

The mediator shall conduct the mediation with all parties physically present or by telephone conference call, or by such other means of communication which permits all parties participating in the mediation to communicate with each other simultaneously.

Presence of parties at the mediation 35.


The mediation shall be held at the office of the Supervisor or at any other place as the mediator designates or, where necessary, a combination of places to facilitate a mediation in which telephone conference calls or such other means of communication is utilized.

Location of mediation 36.


The mediator shall forward a copy of the notice of the mediation, in the form set out in Schedule 1, to– Notice of mediation Form 30 (a) the bankrupt; (b) the trustee; and (c) any creditor who requested the mediation, no more than fifteen days prior to the date set for the mediation, or such shorter period as may be agreed to by all the parties.

37.
37.

At any time before a mediation has started if the mediator reasonably believes that the mediation cannot proceed on the scheduled date, he may reschedule the mediation.

Rescheduling of mediation 38.
Except where it would constitute a second adjournment, the mediator shall, subject to regulation 42, adjourn the mediation at any time during the mediation if– Adjournment of mediation (a) a party requests an adjournment and the mediator reasonably believes that the mediation would benefit from further negotiations or the provision of additional information; (b) the mediator reasonably believes that one of the parties, other than the trustee in the case of a mediation requested by a creditor, cannot continue the mediation for a period of time; 410 BankruptcyandInsolvencyRegulations,2014 (c) all the creditors who were informed of the mediation fail to appear at the mediation and the mediator reasonably believes, with respect to at least one of those creditors, that the non-appearance is neither a delaying tactic nor intended to bring the mediation into disrepute; (d) in the case of a mediation requested by a creditor, a party, other than the trustee, who was informed of the mediation, fails to appear at the mediation and the mediator reasonably believes that the non-appearance is neither a delaying tactic nor intended to bring the mediation into disrepute; or (e) in any case other than the one referred to in paragraph (d), a party, other than a creditor, who was informed of the mediation, fails to appear at the mediation and the mediator reasonably believes that the non-appearance is neither a delaying tactic nor intended to bring the mediation into disrepute.
New date for mediation 39.

Where a mediation has been rescheduled or adjourned– (a) the new date for the mediation shall be within ten days after the date on which the rescheduling or adjournment occurs; and (b) the mediator shall notify the parties of the new date and place for the mediation.

Cancellation of mediation 40.
Subject to regulation 41, the mediator shall cancel a mediation at any time during the mediation if– (a) there is an outstanding opposition to the discharge of the bankrupt by a creditor or the trustee on a ground referred to in section 165(a) to(l) or(o) of the Act; (b) the mediator reasonably believes that a party is abusing the rescheduling procedures; (c) there has already been an adjournment and– (i) there is a request for an adjournment under regulation 38(a); or (ii) one of the circumstances referred to in regulation 38(b) to(e) occurs; (d) the mediator reasonably believes that one of the parties, other than the trustee in the case of a mediation requested by a creditor, cannot continue the mediation; (e) all creditors who were informed of the mediation fail to appear at the mediation and the mediator reasonably believes, with respect to all of those creditors, that the non-appearance is a delaying tactic or is intended to bring the mediation into disrepute; BankruptcyandInsolvencyRegulations,2014 411 (f) in the case of a mediation requested by a creditor, a party, other than the trustee, who was informed of the mediation, fails to appear at the mediation and the mediator reasonably believes that the non-appearance is a delaying tactic or is intended to bring the mediation into disrepute; or (g) in any case other than the one referred to in paragraph (f), a party, other than a creditor, who was informed of the mediation, fails to appear at the mediation and the mediator reasonably believes that the non-appearance is a delaying tactic or is intended to bring the mediation into disrepute.
41.

Notwithstanding regulation 38(b) and (d) and regulation 40(d) and (f), the absence of one or more creditors who requested mediation, or the inability of one or more creditors who requested the mediation to continue the mediation, shall not be a ground for adjourning or cancelling the mediation if at least one creditor who requested the mediation is present at the mediation or is able to continue the mediation, as the case may be.

Absence or inability of creditor who requested mediation 42.
Where a mediation is conducted pursuant to section 163 of the Act and all the creditors who requested the mediation cause the cancellation of the mediation pursuant to regulation 40(e)– (a) the opposition to discharge on the part of each of those creditors on a ground referred to in section 165(m) or (n) of the Act is deemed withdrawn; and (b) the issues submitted to mediation are deemed to have been resolved for the purposes of section 163(7) of the Act.
Effect of cancellation of mediation requested by creditor 43.

The issues submitted to mediation are deemed not to have been resolved for the purposes of section 53(9) or 163(7) of the Act where– Non-resolution of issues (a) a mediation conducted pursuant to section 53 of the Act is cancelled under regulation 40(a) to(g); or (b) a mediation conducted pursuant to section 163 of the Act is cancelled otherwise than under regulation 40(e).

44.
44.

Where the issues submitted for mediation have not been the mediator shall send a notice of resolved by the parties, non-resolution, in the form set out in Schedule 1, to the Supervisor.

Notice of non- resolution of issue Form 31 45.

Where a mediation is cancelled, the mediator shall send a notice of the cancellation in the form set out in Schedule 1 to the Supervisor and the parties to the mediation, setting out the grounds for the cancellation.
Notice of cancellation of mediation Form 32 412 BankruptcyandInsolvencyRegulations,2014 Non-disclosure of confidential information 46.

A mediator or any party to a mediation shall not disclose any confidential information concerning any issue submitted to mediation unless the disclosure is– (a) required by law; or (b) authorized by the person about whom the confidential information relates.

Mediation settlement agreement Form 33 47.


(1) Where an agreement is reached by all parties at the mediation, a mediation settlement agreement, in the form set out in Schedule 1, including all terms and conditions of the settlement, shall be signed by the parties to the mediation.

(2) The mediator shall send a copy of the mediation settlement agreement to the Supervisor and the parties to the mediation.
(3) The mediation settlement agreement shall be binding on the parties to the mediation, subject to any subsequent order of the Court.

Payment by bankrupt 48.

All payments made by a bankrupt under a mediation settlement agreement shall be made to the trustee and the trustee shall deposit it into the estate account referred to in section 209 of the Act.

PART VIII CONTRIBUTOR Contributor 49.


(1) The trustee may request payment from a contributor in the amount that the contributor is liable to contribute under section 67(1) of the Act.

Form 34 (2) The request made under subregulation (1) shall be served personally on the contributor, or sent by registered mail or courier to the contributor’s last known address or the address shown in the stock register or other books of the bankrupt corporation.
(3) Within 30 days after the date on which the request was served under subregulation (1), a contributor may dispute his liability, in whole or in part, in respect of the amount to be contributed, by giving the trustee a written notice of dispute in the form set out in Schedule 1, setting out the disputed items and the grounds for disputing them and, after this notice is given, except with leave of the Court, the contributor may not plead any other ground of dispute in any proceedings brought against the contributor by the trustee.
(4) Where the amount to be contributed is not paid, or a notice of dispute is not served, within the 30 day period referred to in subregulation (3), the trustee may take ex parte proceedings for the recovery of the amount from the contributor.
BankruptcyandInsolvencyRegulations,2014 413 (5) When the trustee receives a notice of dispute, the trustee may apply to the Court to determine the issue and, within ten days after making the application, shall send the contributor a notice of hearing of the application in the form set out in Schedule 1.

Form 35 PART IX BANKRUPT PARTNERSHIPS 50.


A partnership that is bankrupt shall submit to the trustee a statement of its partnership affairs, verified by one of the partners or by the manager in charge of the partnership affairs, and each partner shall submit a statement of his own individual affairs.

Bankrupt partnership PART X ADMINISTRATION OF ESTATES 51.
Where a partnership is bankrupt, the creditors of the partnership and of each partner shall be convened collectively for a first meeting of creditors.

Partnership creditors 52.

For the purposes of section 93(1)(b) of the Act, the notice of the first meeting of creditors shall be in the form set out in Schedule 1 and pursuant to section 93(3) of the Act, shall be sent together with a proof of claim and proxy in the respective forms set out in Schedule 1.

Notice of first meeting Form 36 Form 12 Form 19 53.
For the purposes of section 119(1) of the Act, the notice requiring a person to file a proof of security shall be in the form set out in Schedule 1.

Proof of security Form 37 54.

Where a trustee makes a determination or disallowance under section 126(4) of the Act, he shall serve or send by registered mail or courier a notice, in the form set out in Schedule 1, to the relevant person.

Determination or disallowance Form 38 TAXATION OF ACCOUNTS AND DISCHARGE OF TRUSTEE–GENERAL PART XI 55.
Where, pursuant to section 142(4) of the Act, the Supervisor gives a letter of comment to the trustee, the trustee shall, within thirty days after receiving the letter, apply to the taxing officer for a date for a taxation hearing.

Application to taxing officer 56.

(1) Unless the Court orders otherwise, the remuneration of a trustee is deemed to take into account all services performed by the trustee and by the trustee’s partners and employees.
Calculation of remuneration of trustee 414 BankruptcyandInsolvencyRegulations,2014 (2) A trustee’s disbursements do not include the indirect costs of the trustee’s facilities or premises.

PART XII TAXATION OF ACCOUNTS AND DISCHARGE OF TRUSTEE– SUMMARY ADMINISTRATION Taxation of trustee’s accounts 57.
The trustee of the estate of a bankrupt under summary administration shall apply, pursuant to section 145(j) of the Act, for taxation of the trustee’s accounts and for the discharge of the trustee by sending to the Supervisor– Form 2 Form 2 (a) the trustee’s final statement of receipts and disbursements in the form set out in Schedule 1; and (b) the dividend sheet, showing the dividends paid or to be paid to the creditors of the bankrupt in the form set out in Schedule 1.
Letter of comment of Supervisor 58.

The Supervisor shall examine all documents sent to his office pursuant to regulation 57 and issue a letter of comment to the trustee, stating whether the Supervisor is requesting from the taxing officer the taxation of the trustee’s accounts.

Notice of taxation of trustee’s accounts and discharge Form 39 59.
Where the Supervisor’s letter of comment states that the Supervisor is not requesting the taxation of the trustee’s accounts, the trustee shall, within thirty days after receipt of the letter of comment, send to each creditor who has proved a claim a notice of taxation of the trustee’s accounts and discharge of the trustee, in the form set out in Schedule 1, attaching– Form 2 Form 2 Form 2 (a) a copy of the trustee’s final statement of receipts and disbursements; (b) a copy of the dividend sheet, showing the dividends paid or to be paid to the creditors of the bankrupt; and (c) the final dividend that is owed to the creditor, if the trustee is satisfied that no creditor will object to the taxation of the trustee’s accounts and the discharge of the trustee.
Notice of objection to trustee’s accounts 60.
A creditor may, within thirty days after the date on which the notice referred to in regulation 59 is sent, object to the taxation of the trustee’s accounts and the discharge of the trustee by– Form 40 (a) serving on the trustee or sending to the trustee by registered mail or courier, a notice of objection in the form set out in Schedule 1; (b) filing a copy of the notice of objection with the taxing officer; and (c) sending a copy of the notice of objection to the Supervisor.
BankruptcyandInsolvencyRegulations,2014 415 61.
(1) Where a trustee receives no notice of objection, the trustee shall– No notice of objection (a) at the expiration of the time limit stated in regulation 60, take the trustee’s fee; (b) at the expiration of the time limit stated in regulation 60, if the trustee has not already done so, send a final dividend to each creditor to whom one is owed; and (c) within three months after the date on which the notice referred to in regulation 59 is sent– (i) close the bank account used in administering the estate of the bankrupt, if that account is not a consolidated account, or, if the account is a consolidated account, ensure that all estate funds have been withdrawn from it; (ii) remit any unclaimed dividends and undistributed funds to the Supervisor; and (iii) send to the Supervisor a certificate of compliance and deemed discharge in the form set out in Schedule 1.
Form 39 (2) A trustee is deemed to be discharged on meeting the requirements of subregulation (1)(b) and(c).

62.

Where a trustee receives a notice of objection, the trustee shall– (a) obtain a hearing date from the taxing officer; and (b) within thirty days after the date on which the notice of objection is received and at least thirty days before the date of the hearing, send the objecting creditor a notice of hearing, in the form set out in Schedule 1.

63.
(1) Where the Supervisor issues a letter of comment pursuant to regulation 58 requesting the taxation of a trustee’s accounts, the trustee shall, after obtaining a hearing date from the taxing officer and within thirty days after the date of receipt of the letter of comment, send to the Supervisor and each creditor who has proved a claim– Where objection received Form 41 Supervisor’s request for taxation (a) a notice of hearing for the taxation of the trustee’s accounts and the discharge of the trustee, in the form set out in Schedule 1, at least thirty days before the date of the hearing; Form 41 (b) a copy of the trustee’s final statement of receipts and disbursements; and (c) a copy of the dividend sheet, showing the dividends paid or to be paid to the creditors of the bankrupt.
Form 2 Form 2 416 BankruptcyandInsolvencyRegulations,2014 Form 40 (2) A creditor may object to the taxation of the trustee’s accounts and discharge of the trustee by– (a) serving a notice of objection in the form set out in Schedule 1, on the trustee or sending a notice of objection to the trustee by registered mail or courier; (b) filing a copy of the notice of objection with the taxing officer; and (c) sending a copy of the notice of objection to the Supervisor.

Taxation hearing 64.


(1) At the time of the hearing, the taxing officer shall consider the creditors’ objections and the letter of comment issued by the Supervisor, and shall tax the trustee’s accounts.
(2) If the taxing officer taxes a trustee’s accounts as submitted, the trustee shall– (a) take the trustee’s fee as taxed; (b) send a final dividend to each creditor to whom one is owed; and (c) within two months after the date of the taxation order– Form 39 (i) close the bank account used in administering the estate of the bankrupt, if that account is not a if the account is a consolidated account or, consolidated account, ensure that all estate funds have been withdrawn from it; (ii) remit any unclaimed dividends and undistributed funds to the Supervisor; and (iii) send to the Supervisor a certificate of compliance and deemed discharge in the form as set out in Schedule 1.
(3) A trustee is deemed to be discharged on meeting the requirements of subregulation (2)(b) and(c).
(4) Where the taxing officer taxes a trustee’s accounts otherwise than as submitted, the trustee shall– (a) take the trustee’s fee as taxed; (b) send a final dividend to each creditor to whom one is owed, in accordance with the taxation order; and (c) within two months after the date of the taxation order– (i) close the bank account used in administering the estate of the bankrupt if that account is not a if the account is a consolidated account or, consolidated account, ensure that all estate funds have been withdrawn from it; BankruptcyandInsolvencyRegulations,2014 417 (ii) remit any unclaimed dividends and undistributed funds to the Supervisor; (iii) send to the Supervisor and to each creditor a revised final statement of receipts and disbursements, a revised dividend sheet and a copy of the taxation order; and Form 2 (iv) send to the Supervisor and to the Registrar a certificate of compliance and deemed discharge, in the form set out in Schedule 1.
Form 39 (5) A trustee is deemed to be discharged on meeting the requirements of subregulation (4)(b) and(c).

PART XIII DISCHARGE UNDER SUMMARY ADMINISTRATION 65.

The notice of bankruptcy and notice of impending automatic discharge, or notice of bankruptcy and application for discharge, referred to in section 145(i) of the Act, shall be in the form set out in Schedule 1.

Discharge of bankrupt Form 36 PART XIV MAINTENANCE OF PUBLIC RECORDS 66.
For the purposes of section 179 of the Act, the Supervisor shall keep– Time period for keeping of records (a) the files relating to a proposal for at least six years after the date on which a certificate of full performance of the proposal is given pursuant to section 50 of the Act; (b) the files relating to the bankruptcy of an individual– (i) for at least six years after the date on which the trustee of the bankrupt’s estate is discharged under section 225(2) of the Act, or is deemed to be discharged pursuant to these Regulations; and (ii) if the bankrupt has not been granted an absolute order of discharge under section 164(2) of the Act at the end of the period referred to in subparagraph (i), until the bankrupt has been granted the absolute order of discharge; (c) the files relating to the bankruptcy of a corporation for at least six years after the date on which the trustee of the bankrupt’s estate is discharged under section 225(2) of the Act; 418 BankruptcyandInsolvencyRegulations,2014 (d) the files relating to a licence issued to a trustee for at least six years after the date of expiry of the licence; (e) the files relating to each notice sent to the Supervisor by a receiver pursuant to section 14 of the Act for at least six years after the date on which the notice is received by the Supervisor; and (f) all other records relating to the administration of the Act for at least six years after the date on which they are received.
PART XV LICENSING OF TRUSTEES Disqualification 67.

The following persons shall not be issued with a trustee licence: (a) an undischarged bankrupt; (b) aperson under the age of eighteen years; (c) a person who is mentally ill within the meaning of the Mental Health Act; (d) a person who is disqualified from being a director under the provisions of the Companies Act; and (e) a person who does not meet the minimum criteria to be considered fit and proper as set out in Schedule 3.

Chap.

28:02 Chap.
Chap.

28:02 Chap.

81:01 Schedule 3 Application for individual trustee licence 68.
(1) For the purposes of section 180(2) of the Act, the Supervisor may issue an individual trustee licence to an applicant if the applicant satisfies the Supervisor that– (a) the applicant is of good character and reputation and that the issuance of a licence will not impair public confidence in the bankruptcy and insolvency system; (b) the applicant is in good standing with, and not subject to, any disciplinary action by any professional organization of which the applicant is or was a member; and (c) the applicant is– Chap.
18:01 with the Immigration Act; (i) a resident of Trinidad and Tobago in accordance (ii) a holder of a work permit under the Immigration Act or exempted from holding a work permit under the Immigration Act; or (iii) is affiliated with a company incorporated under the Chap.

81:01 Companies Act.

Form 42 the form set out in Schedule 1.


(2) An application for an individual trustee licence shall be in BankruptcyandInsolvencyRegulations,2014 419 (3) An individual licence issued by the Supervisor shall be in the form set out is Schedule 1.

69.
69.

(1) Subject to sections 195 to 198 of the Act, the Supervisor may issue a corporate trustee licence to an applicant who is – (a) a company incorporated under the Companies Act; (b) solvent; and (c) considered fit and proper in accordance with Part 2 of Schedule 3.

(2) An application for a corporate trustee licence shall be in the form set out in Schedule 1.

(3) A corporate licence issued by the Supervisor shall be in the form as set out in Schedule 1.
Form 43 Application for corporate trustee licence Schedule 3 Form 44 Form 45 70.
In addition to any other requirements under these Regulations, an applicant shall demonstrate to the Supervisor– Additional requirements (a) his financial condition and solvency; (b) his educational and other qualifications; (c) that he has at least three years’ relevant experience; (d) his ability to perform his proposed business efficiently, honestly and fairly; (e) his ability to comply with the requirements of the Act; and (f) his character, financial integrity and reliability.

71.
Pursuant to section 180(3) of the Act, a person shall not be granted a licence as a trustee unless he is a member of one of the following professional bodies: Member of professional body (a) the Institute of Chartered Accountants of Trinidad and Tobago (ICATT); (b) the Institute of Chartered Accountants of the Caribbean (ICAC); (c) the Institute of Internal Auditors of Trinidad and Tobago (IIATT); (d) the Association of Chartered Certified Accountants; or (e) Law Association of Trinidad and Tobago established under the Legal Profession Act.
72.

Prior to appointing a trustee for professional engagement under the Act, the Supervisor shall be satisfied that the trustee– (a) has a valid licence; (b) is solvent; Chap.

90:03 Acceptance of professional engagement 420 BankruptcyandInsolvencyRegulations,2014 (c) does not practice an incompatible activity; and (d) has sufficient financial resources and professional liability insurance and employee dishonesty or fidelity insurance to properly administer the professional engagement.
PART XVI TRUSTEES’ CODE OF ETHICS Code of ethics 73.

A trustee shall be bound to the code of ethics contained in this Part.

Public trust and confidence 74.

A trustee shall maintain a high standard of ethics that is central to the maintenance of public trust and confidence in the administration of the Act.

Performance of functions 75.

A trustee shall perform his duties in a timely manner and carry out his functions with competence, honesty, integrity and due care.
Cooperation with Supervisor Illegal or dishonest conduct 76.

A trustee shall cooperate fully with the Office of the Supervisor in all matters arising out of the Act.

77.

A trustee shall not assist, advise or encourage any person to engage in any conduct that he knows, or ought to know, is illegal or dishonest, in respect of the bankruptcy and insolvency process.

Trustee to be impartial 78.


A trustee shall be honest and impartial and shall provide to interested parties full and accurate information as required by the Act with respect to his professional engagement.

Non-disclosure of confidential information by trustee 79.

A trustee shall not disclose confidential information concerning any professional engagement, unless the disclosure is– (a) required by law; or (b) authorized by the person about whom the confidential information relates.
Prohibition on use of confidential information 80.

A trustee shall not use any confidential information that is gathered in his professional capacity for his personal benefit or for the benefit of a third party.

Prohibition on purchase of property 81.
A trustee shall not purchase, directly or indirectly– (a) property of a debtor for whom he is acting with respect to a professional engagement; BankruptcyandInsolvencyRegulations,2014 421 (b) property of property in respect of which the Act applies and for which they are not acting in a professional capacity, unless the property is purchased– (i) at the same time that it is offered to the public; (ii) at the same price that it is offered to the public; and (iii) during the normal course of business of the bankrupt or debtor.
82.
(1) Subject to subregulation (2), if a trustee has a responsibility to sell property in connection with a proposal or bankruptcy, he shall not sell the property, directly or indirectly– Prohibition on sale of property (a) to his employee, agent or mandatary, or person not dealing at arms’ length with the trustees; (b) to another trustee or knowingly to an employee of another trustee; or (c) to a related person of the trustee or, knowingly, to a related person of the persons referred to in paragraph(a) or(b).
(2) A trustee may sell property in connection with a proposal or bankruptcy to the persons set out in subregulation (1)(a), (b) or (c), if the property is offered for sale– (a) at the same time that it is offered to the public; (b) at the same price that it is offered to the public; and (c) during the normal course of business of the bankrupt or debtor.

83.
83.

A trustee who is acting with respect to any professional engagement shall avoid any influence, interest or relationship that impairs, or may appear in the opinion of an informed person, to impair his professional judgement.

Impairment of professional judgement 84.


A trustee shall not sign any document, including any letter, report, statement, representation or financial statement, that he knows, or reasonably ought to know, is false or misleading and shall not associate himself with such a document in any way, including by adding a disclaimer of responsibility after his signature.

Signing of false or misleading document 85.


A trustee may transmit information that he has not verified, respecting the financial affairs of a bankrupt or debtor, if– Transmission of unverified information (a) the information is subject to a disclaimer of responsibility or an explanation of the origin of the information; and (b) the transmission of the information is not contrary to the Act.

422 BankruptcyandInsolvencyRegulations,2014 Engaging in other business or occupation 86.
A trustee shall not engage in any business or occupation that would compromise his ability to perform any professional engagement or that would jeopardize his integrity, independence or competence.

Money or property in trust 87.


A trustee who holds money or other property in trust shall– (a) hold the money or property in accordance with the laws, regulations and terms applicable to the trust; and (b) administer the money or property with due care, subject to the laws, regulations and terms applicable to the trust.

Prohibition on payment or receipt of commission, compensation or benefit 88.
A trustee shall not, directly or indirectly, pay to a third party a commission, compensation or other benefit in order to obtain a professional engagement, or accept, directly or indirectly from a third party, a commission, compensation or other benefit for referring work relating to a professional engagement.

Discredit to the profession 89.


A trustee shall not obtain, solicit or conduct any professional engagement that would discredit the profession or jeopardize the integrity of the bankruptcy and insolvency process.

Advertisement 90.
Advertisement 90.

A trustee shall not, directly or indirectly, advertise in a manner that– (a) he knows, or ought reasonably to know, is false, misleading, materially incomplete or likely to induce error; or (b) unfavourably reflects on the reputation or competence of another trustee or on the integrity of the bankruptcy and insolvency process.

Actions of employees and agents of a trustee 91.


A trustee, in the course of his professional engagement, shall apply due care to ensure that the actions carried out by his employee, agent, mandatary or any person hired by him on a contractual basis are carried out in accordance with the same professional standards that he himself is required to follow in relation to the professional engagement.

Complaints 92.

A complaint that a trustee has contravened the Act shall be sent to the Supervisor in writing.
PART XVII DUTIES OF TRUSTEES Notification of appointment as trustee 93.

A trustee who is appointed pursuant to section 225(12) of the Act shall notify the Supervisor of his appointment, in writing, within ten days after the appointment.

BankruptcyandInsolvencyRegulations,2014 423 94.
(1) Subject to subregulation (2), a former trustee who is to pass the accounts before the Court in accordance with section 220(1) of the Act shall make an application to the Court and attach to it an affidavit and shall send a notice in the form set out in Schedule 1, accompanied by a copy of the statement of receipts and disbursements, specifying the time and place set for passing the accounts, to the following persons: Passing of accounts Form 46 (a) every creditor whose claim has been proved; (b) the Registrar; (c) the bankrupt; (d) the substituted trustee; and (e) the Supervisor.
(2) The Court may order that a notice is not required to be given to the persons referred to in regulation 94(1)(a).

PART XVIII BOOKS, RECORDS AND DOCUMENTS 95.

(1) Unless the Court orders otherwise, a trustee shall keep, for at least six years after the date of his discharge, the books, records and documents relating to the administration of that estate.
Books, records and documents of trustee (2) Unless the Court orders otherwise, a trustee shall, after being discharged, send to the last known address of the debtor, bankrupt or officer of the bankrupt corporation, a written notice, unless there is a written waiver giving up the right to be notified, that he or his representative may, within the thirty days following the sending of the notice, take back any of the debtor’s or bankrupt’s books, records and documents to which subregulation (1) does not apply.
(3) Where no person has taken back the books, records and documents pursuant to subregulation (2), the trustee may dispose of the books, records and documents.

(4) Documents on which legal counsel has a lien or a right of retention shall be returned to the legal counsel on completion of the administration of the estate to which the documents relate.

PART XIX MISCELLANEOUS 96.

For the purposes of section 65(2) of the Act, a spouse or cohabitant shall make a claim in the form set out in Schedule 1.
Claim by spouse or cohabitant of debtor Form 47 424 BankruptcyandInsolvencyRegulations,2014 Proof of claim Form 12 97.

For the purposes of sections 27, 32, 71, 73, 93, 100, 115 and 252 of the Act, a proof of claim shall be in the form set out in Schedule 1.

Demand for repossession of goods Form 48 Counselling Statement of affairs of bankrupt Form 10 Form 11 Notice of final dividend Form 49 98.
For the purposes of section 72(1)(a) of the Act, a demand for repossession shall be made in the form set out in Schedule 1.

99.

(1) Subject to section 148 of the Act, counselling services may be provided to an individual bankrupt and his immediate family if requested by the individual bankrupt, or in the opinion of the trustee would aid in the rehabilitation of the individual bankrupt.
(2) All counselling to be provided to an individual bankrupt or his immediate family shall be provided by appropriate persons approved by the Supervisor.

(3) Where counselling services are provided to the immediate family of an individual bankrupt, such counselling shall be provided at the same time as the counselling provided to the individual bankrupt.
(4) Upon completion of any counselling provided under this regulation, an individual bankrupt and his immediate family, shall provide to the trustee evidence of attendance and completion of the counselling sessions.

100.

For the purposes of section 149(e) of the Act, the statement of the affairs of the bankrupt shall be in the respective forms set out in Schedule 1.

101.

For the purposes of section 142(5)(c) of the Act, the notice of final dividend shall be in the form set out in Schedule 1.
Bankruptcy and Insolvency Regulations, 2014 425 SCHEDULE 1 FORM 1 [Section11(2)oftheActandRegulation6(3)] NNOOTTIICCEE OOFF AAPPPPLLIICCAATTIIOONN FFOORR TTAAXXAATTIIOONN OOFF AACCCCOOUUNNTTSS AANNDD DDIISSCCHHAARRGGEE OOFF IINNTTEERRIIMM RREECCEEIIVVEERR Take notice that: 1.

Attached to this notice is a copy of the final statement of receipts and disbursements of _____________________________________________________, the interim receiver of the property of ___________________________________, the debtor.
2.

Also attached is a statement of account prepared by the interim receiver and other information concerning the fees and expenses.

3.

Objection to the statement of receipts and disbursements and to the discharge of the interim receiver must be filed with the court and the undersigned within the thirty days after the day on which this notice is sent.

The notice of objection must state the reasons for the objection.

4.
4.

The debtor or, in the case of a bankruptcy, the trustee or any creditor may file a notice of objection.

5.

Where no objection is filed within thirty days after the sending of this notice, the interim receiver’s accounts are deemed to have been taxed and the interim receiver is deemed to be discharged, unless the court requires that the accounts be taxed on their own merit.

Dated at __________________, this ______ day of __________ ______.
____________________________ Interim Receiver 426 Bankruptcy and Insolvency Regulations, 2014 FORM 2 [Sections 11(2), 14(f), 14(g), 141 and 142(2) of the Act and Regulations 6(3)(b), 11(a), 12(a), 57(a) and (b), 59(a), (b) and (c), 63(1)(b) and (c), 64(4)(c)(iii)] SSTTAATTEEMMEENNTT OOFF RREECCEEIIPPTTSS AANNDD DDIISSBBUURRSSEEMMEENNTTSS RECEIPTS 1.

Cash in hand and in bank ... ... 2.

Realization of assets: Book debts and bills of exchange ... ... 3.
Realization of assets: Stock, fixtures, machinery and furniture 4.

Realization of assets: Real property or immovable ... ... ... ... ... ... $__________ ... $ _________ ... $ _________ ... $ _________ 5.

Received from: (a) Interim receiver as taxed ... $ __________ (b) Former trustee as taxed ... $ __________ ... ... $ __________ 6.
Operating receipts ... ... ... ... ... ... ... $ _________ Less: (a) purchases ... $ __________ (b) operating expenses $ __________ ... ... ... $ _________ (Attach statement detailing purchases and expenses) Net profit(net loss to be shown in miscellaneous disbursements, 19(a)) $ __________ 7.
Miscellaneous: (a) Bank interest, etc (specify) ... ... ... ... ... $ __________ (b) Funds received from guarantor (if applicable) ... ... ... $ __________ TOTAL RECEIPTS ... ... ... ... ... ... ... $ _________ Bankruptcy and Insolvency Regulations, 2014 427 DDIISSBBUURRSSEEMMEENNTT 8.

Fees paid: (a) To Court ... ... ... ... ... ... ... $ __________ (b) Other fees ... ... ... ... ... $ _________ ... $ __________ 9.
Notice of first meeting (a) Local paper ... ... ... ... ... $ _________ (b) To (number) ______ creditors ... ... ... $ _________ (c) Postage ... ... ... ... ... $ _________ ... $ __________ 10.

Other advertising ... ... ... ... 11.

Stock-taking and possession (actual expenses only) ... ... ... ... ... ... $ _________ $ __________ 12.

Premiums: (a) Bond or suretyship ... ... ... ... $ __________ (b) Insurance ... ... ... ... ... $ __________ ... $ __________ 13.
Notice of bankrupt’s application for discharge: (a) To (number) _____ creditors ... ... ... $ __________ (b) Postage ... ... ... ... ... $ __________ ... $ __________ 14.

Auctioneer: (a) Commission ... ... ... ... ... $ __________ (b) Expenses ... ... ... ... ... $ __________ ... $ __________ 15.

Notice of final dividend and trustee’s application for discharge: (a) To (number) _____ creditors ... ... ... $ __________ (b) Postage ... ... ... ... ... $ __________ ... $ __________ 16.
Other Notices and reports (a) To (number) _____ creditors ... ... ... $ __________ (b) Postage ... ... ... ... ... $ __________ ... $ __________ 17.

Postage on general correspondence ... ... ... ... ... $ __________ 18.

Inspector: (a) Fees ... ... ... ... ... $ __________ (b) Expenses ... ... ... ... ... $ __________ ... $ __________ 19.
Miscellaneous: (a) Loss on operations ... ... ... ... $ __________ (b) Cost of former trustee as taxed ... ... ... $ __________ (c) Other (provide details) ... ... ... ... $ __________ ... $ __________ 20.

Trustee’s remuneration ... ... ... ... ... ... $ __________ 428 Bankruptcy and Insolvency Regulations, 2014 21.

Legal fees and legal services costs (taxed): (a) Legal counsel on application or assignment ... $ __________ (b) Legal counsel to estate.
... ... ... $ __________ (c) Court fees awarded against trustee ... ...$ __________ (d) Costs awarded to opposing creditor.......................................$ __________............$ __________ 22.

Taxes (Federal and Provincial) ... ... ... ... ... $ __________ 23.

Counselling fees ................................................................................................................$ __________ 24.
Trust claim (Crown) .........................................................................................................$ __________ TOTAL DISBURSEMENTS ... ... ... ... ... ... ... $ __________ Note: Total disbursements paid for services provided by persons related to the trustee: $ __________ (a) Amount $ __________ (b) Name of person related to the trustee: ___________________________________________ (c) Relationship to the trustee (e.g., spouse, parent): _________________________________ 25.
Amount available for distribution ... 26.

5% levy payable under section 137 of the Act ... ... ... ... ... ... ... ... $ __________ $ __________ 27.

Secured creditors: Dividend $ __________ Less levy ... ... $ __________ $ __________ 28.

Preferred creditors: Dividend $ __________ Less levy ... ... $ __________ $ __________ 29.
Unsecured creditors: Proved claims of ... ... ... $ __________ Interim dividend Less levy ... ... $ __________ $ __________ Final dividend Less levy ... ... $ __________ $ __________ 30.

Amount refunded to debtor ... 31.

Undistributed assets ... ... ... ... ... ... ... ... ... ... ... $ __________ $ __________ Bankruptcy and Insolvency Regulations, 2014 429 32.
Status of Bankrupt’s Discharge (if an individual)/Status of Proposal Absolute discharge Automatic Conditional Deceased Discharge suspended Hearing set Refused Sine die Annulled by Court Court approval refused Creditor acceptance rejected Deemed annulled Full performance Withdrawn Ongoing Status date: _________________________ [Provide a description and value of all property of the bankrupt (whether or not secured) as shown in the Statement of Affairs, or otherwise known and not accounted for in the receipts, stating why the property has not been sold or realized and stating the disposition made].
_______________________ Date _______________________ Trustee Approved by the following inspectors: _______________________________ _______________________________ _______________________________ _______________________________ Taxed at the sum of $ __________ on _________________________, 2_____.
______________________ Supervisor 430 Bankruptcy and Insolvency Regulations, 2014 FORM 3 [Section 11(2) of the Act and Regulation 7(2)]] NNOOTTIICCEE OOFF OOBBJJEECCTTIIOONN To the Registrar In the matter of___________________________________________________________(name of debtor), I, ___________________________, of __________________________(name and address of objector) object to the taxation of the accounts and discharge of the interim receiver on the following grounds: (Reason(s) for objection) ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ This notice must be filed with the Registrar, and a copy must be sent to the interim receiver.
Dated at _____________________, this _______________ day of ________________ __________________.

_____________________ Objector Bankruptcy and Insolvency Regulations, 2014 431 FORM 4 [Section 13(1) of the Act and Regulation 8] NNOOTTIICCEE OOFF IINNTTEENNTTIIOONN TTOO EENNFFOORRCCEE AA SSEECCUURRIITTYY To: _______________________________________, an insolvent person.

Take notice that: 1.


_________________________________, a secured creditor, intends to enforce its security on the insolvent person’s property as described below: (Describe the property to which the security relates.)

2.

The security that is to be enforced is the following: (Provide particulars of the security.)

3.

The total amount of the indebtedness secured by the security is $ __________.

4.
4.

The secured creditor will not have the right to enforce the security until after the expiry of the ten day period after this notice is sent unless the insolvent person consents to an earlier enforcement.

Dated at _____________________, this _______________ day of ___________________________________.
___________________________ Signature ______________________________________ Signature/Stamp of secured creditor 432 Bankruptcy and Insolvency Regulations, 2014 FORM 5 [Section 14(c), (e) of the Act and Regulations 9(1), 10(1)] NNOOTTIICCEE AANNDD SSTTAATTEEMMEENNTT OOFF TTHHEE RREECCEEIIVVEERR The receiver gives notice and declares that: 1.
On the ____ day of _________________________, I, _______________________, became the receiver in respect of the property of ________________________, an insolvent person (or a bankrupt), that is described below– (Provide an appropriate description of the property including the book value of each asset and broken down into the categories of inventory, accounts receivable and other assets.)

2.
2.

I became a receiver by having taken possession or control of the property described above [or by virtue of being appointed by ____________________________ (name of person or court that appointed receiver)] pursuant to ________________________ (State particulars of security agreement or court order pursuant to which receiver was appointed).

3.

I, the undersigned took possession or control of the property described above on the ______ day of ____________, ____.

4.
4.

The following information relates to the receivership: (a) Address of insolvent person (or bankrupt): ____________________________________________.

(b) Principal line of business: ___________________________________________________________.

(c) Location(s) of business: _____________________________________________________________.

(d) Amount owed by insolvent person (or bankrupt) to each creditor who holds a security on the property described above: $ _______________.
(e) The list of other creditors of the insolvent person (or the bankrupt) and the amount owed to each creditor and the total amount due by the insolvent person (or the bankrupt) is as follows: ____________________________________________________________________________.

(f) The intended plan of action of the receiver during the receivership, to the extent that such a plan has been determined, is as follows: ____________________________________________.
(g) Contact person for receiver– (Provide name, telephone and fax numbers and, if applicable, an e-mail address.)

Dated at _____________________, this _______________ day of ___________________________________.
___________________________ Signature ______________________________________ Name and Title of Receiver Bankruptcy and Insolvency Regulations, 2014 433 FORM 6 [Section 15(c) and Regulation 9(2)] NNOOTTIICCEE OOFF AAPPPPOOIINNTTMMEENNTT OOFF RREECCEEIIVVEERR IINN LLOOCCAALL NNEEWWSSPPAAPPEERR In the matter of the receivership of ________________________________________________.
Notice is hereby given that on the __________ day of _________________________________________, I, ____________________________________________, became the receiver in respect of the property of _____________________________, an insolvent person (or a bankrupt).
I became a receiver by virtue of being appointed by ________________ ____________ (name of person or court that appointed receiver) pursuant to ________________________ (state particulars of security agreement or court order pursuant to which receiver was appointed).

Dated at _____________________, this _______________ day of ___________________________________.
__________________________ Receiver __________________________ __________________________ __________________________ Address of Receiver 434 Bankruptcy and Insolvency Regulations, 2014 FORM 7 [Section 18(1) of the Act and Regulation 13] NNOOTTIICCEE OOFF DDIISSPPOOSSIITTIIOONN OOFF CCOOLLLLAATTEERRAALL To ______________________________________________ (Name of debtor/person with charge registered against the collateral/creditor who has given notice to the receiver of his interest in the collateral/if the debtor is a corporation, to director of the debtor.)
Take notice that as the duly appointed receiver/receiver-manager over the property of ________________________ (details of debtor), I intend to dispose of the whole or part of the collateral under my control by ___________________________________________________ (insert details of disposition) on the ______ day of ___________________________.

Dated at ________________________, this ___________________ day of _____________________, __________________.
__________________________ Receiver The Bankruptcy and Insolvency Regulations, 2014 435 FORM 8 (Regulation 14) AASSSSIIGGNNMMEENNTT FFOORR TTHHEE GGEENNEERRAALL BBEENNEEFFIITT OOFF CCRREEDDIITTOORRSS This indenture made on this ____________ day of __________________________, 2_________, between _______________________________________________________________________________________________ (Insert the full legal name of the Debtor) _______________________________________________________________________________________________ _______________________________________________________________________________________________ (Insert address of the Debtor) hereinafter called “the debtor” and _______________________________________________________________________________________________ (Insert the name of the Trustee) hereinafter called "the trustee."
(Check applicable category) ☐ Natural person ☐ Corporate or other legal entity WHEREAS the debtor is insolvent and desires to assign and to abandon all his/her property for distribution among his/her creditors, in pursuance of the Act, this indenture witnesses that the debtor does hereby assign to the trustee all the debtor's property for the uses, intents and purposes provided by the Act.

Signed at _____________________________, in the presence of ___________________________________.
_________________ Witness _________________ __________________ Date Debtor (or Legal Personal Representative of the Debtor) Notes: (i) If the debtor is a corporation, a certified copy of the resolution of the Board of Directors must be attached to this document.

(ii) Attach a copy of the Court Order granted pursuant to section 25(1) of the Act.
436 Bankruptcy and Insolvency Regulations, 2014 FORM 9 (Regulation 15) CCEERRTTIIFFIICCAATTEE OOFF AAPPPPOOIINNTTMMEENNTT OOFF TTRRUUSSTTEEEE ((AASSSSIIGGNNMMEENNTT)) In the Republic of Trinidad and Tobago In the Matter of the Bankruptcy of: ________________________________ Debtor ________________________________ Trustee ________________________________________________________________________________________________ Date and time of bankruptcy: Date of trustee appointment: Meeting of creditors: Chair: Security: ________________________________________________________________________________________________ CERTIFICATE OF APPOINTMENT [Section 25(4) and Regulation 15] I, the undersigned, in my capacity as Supervisor, do hereby certify that: the aforementioned debtor filed an assignment under section 25 of the Bankruptcy and Insolvency Act; the aforementioned trustee was duly appointed trustee of the estate of the debtor.
The said trustee is required: to provide to me, without delay, security in the aforementioned amount; to send to all creditors, within five days after the date of the trustee’s appointment, a notice of the bankruptcy; when applicable, to call in the prescribed manner a first meeting of creditors, to be held at the aforementioned time and place or at any other time and place that may be later requested by the Supervisor; and to inform me without delay and in writing of any material change to the circumstances surrounding the granting of his licence.
Dated at _____________________, this _______________ day of ___________________________________.
__________________________ Supervisor The Bankruptcy and Insolvency Regulations, 2014 437 FORM 10 [Sections 25(2), 26(9)(a) and 149(e) of the Act and Regulations 16 and 100] SSTTAATTEEMMEENNTT OOFF AAFFFFAAIIRRSS ((BBuussiinneessss BBaannkkrruuppttccyy//PPrrooppoossaall)) ((TThhiiss ffoorrmm mmuusstt bbee ccoommpplleetteedd bbyy aallll bbaannkkrruuppttss//ddeebbttoorrss wwhheerree aa bbuussiinneessss iiss iinnvvoollvveedd,, wwhheetthheerr tthhee bbuussiinneessss iiss iinn tthhee ffoorrmm ooff aa ccoorrppoorraattiioonn,, ppaarrttnneerrsshhiipp,, ssoollee pprroopprriieettoorrsshhiipp oorr ootthheerrwwiissee)) ☐☐ OOrriiggiinnaall ☐☐ AAmmeennddeedd To the bankrupt/debtor: You are required to carefully and accurately complete this form and the applicable attachments showing the state of your affairs on the date of your bankruptcy/date of filing of your proposal (or, if applicable, notice of intention) on the ______ day of ___________ ____.
When completed, this form and the applicable attachments will constitute your Statement of Affairs and must be verified by oath or solemn declaration.

LIABILITIES ASSETS (as stated and estimated by bankrupt/debtor) (as stated and estimated by bankrupt/debtor) 1.

Unsecured creditors as per list “A”... $ __________ 1.

Inventory ... ... $ _________ 2.

Secured creditors as per list “B” ... $ __________ 2.

Trade fixtures, etc.

... $ _________ 3.

Preferred creditors as per list “C” ... $ __________ 3.
Accounts receivable and other 4.

Contingent, trust claims or other liabilities as per list “D” estimated to to be reclaimable for ... ... $ __________ $ __________ receivables as per list “E”: Good ... ... $ ______ Doubtful ... $ ______ Bad ... ... $ ______ Estimated to produce .$ ______ $ ________ 4.

Bills of exchange, promissory note, Total liabilities ... $ __________ etc., as per list “F” ... ... $ _________ Surplus ... ... $ __________ 5.

Deposits in financial institutions $ _________ 6.


Cash ... ... ... $ _________ 7.

Livestock ... ... $ _________ I, _____________, of _____________________________ 8.

Machinery, equipment and plant $ _________ do swear (or solemnly declare) that this statement and the attached lists are, to the best of my knowledge, a full, true 9.

Real property or immovables as per list “G” ... ... $ _________ and complete statement of my affairs on the __________ 10.
Furniture ... ... $ _________ day of ___________________ and fully discloses all property 11.

Savings Plans, Retirement of every description that is in my possession or that may Plans, Investment Funds, devolve on me in accordance with the Act.

life insurance, etc.

... $ _________ 12.

Securities (shares, bonds, debentures, etc.)

... ... $ _________ 13.

Interests under wills ... $ _________ 14.


Vehicles ... ... ... $ _________ 438 Bankruptcy and Insolvency Regulations, 2014 SWORN (or SOLEMNLY DECLARED) before me at ________________________ (address), 15.
Other property as per list “H” _____________...............$ ______ _____________...............$ ______...$ _________ If bankrupt/debtor is a corporation, add: on this _____ day of _________________ Amount of subscribed ____________________ ________________________ $ ______ Commissioner of Affidavits Signature of bankrupt/ debtor capital .......................$ ______ Amount paid on capital $ ______ Balance subscribed and unpaid ...$ _________ Estimated to produce ... ... $ _________ $ _________ Total assets ... ... $ _________ Deficiency ... ... $ _________ Bankruptcy and Insolvency Regulations, 2014 439 ” A “ .
o N .
/ t p u r k n a B 440 Bankruptcy and Insolvency Regulations, 2014 ” B “ .
o N e t a D r o t b e D / t p u r k n a B Bankruptcy and Insolvency Regulations, 2014 441 ” C “ t s i L .

c t e , t n e R , .
o N e t a D r o t b e D / t p u r k n a B 442 Bankruptcy and Insolvency Regulations, 2014 .
o N ” D “ ” C “ r o ” B “ / t p u r k n a B Bankruptcy and Insolvency Regulations, 2014 443 ” E “ t s i L r o t b e D / , l u f t b u o d , d o o g ( ) .
o N e t a D r o t b e D / t p u r k n a B 444 Bankruptcy and Insolvency Regulations, 2014 .

c t e , e t o n r o ” F “ t s i L s t e s s A s a e l b a l i a v A , .
c t e , s e g a g t r o M l e t t a h C , s e t o N n e i L , s e t o N y r o s s i m o r P , .

c t e , e t o n r o l l a f o e m a N , y r o s s i m o r p , s r o t p e c c a , .
o N e t a D r o t b e D / t p u r k n a B Bankruptcy and Insolvency Regulations, 2014 445 ” G “ t s i L r o t b e D / ) t n u o m a , s s e r d d a , e m a n ( d n a t s e l t i t t s e r e t n i ’ s r o t b e D s u l p r u s r o y t i u q E , / s ’ / t p u r k n a B 446 Bankruptcy and Insolvency Regulations, 2014 ” H “ t s i L y t r e p o r P n i r o t b e d / r’s o t b e d / t’ .
, y r e n i h c a M ) f ( e r u t i n r u F ) g ( .

c t e , s P S R R , s e i c i l o p e c n a r u s n i e f i L ) h ( .
c t e , s l l i w r e d n u s t s e r e t n I ) j ( s e i t i r u c e S ) i ( s n o i t u t i t s n i l a i c n a n i f n i h s a C ) c ( ) s s e r d d a ( ) e m a n ( d n a h n o h s a C ) d ( k c o t s e v i L ) e ( s e l c i h e V ) k ( s e x a T ) l ( .
c t e , s e r u t x i f e d a r T ) b ( y t r e p o r p f o e r u t a N e d a r t - n i - k c o t S ) a ( ) s r a l u c i t r a p e t a t s ( y t r e p o r p r e h t O ) m ( r o t b e D / t p u r k n a B Bankruptcy and Insolvency Regulations, 2014 447 FORM 11 [Sections 25(2), 26(9)(a) and 149(e) of the Act and Regulations 16 and 100] STATEMENT OF AFFAIRS (Non-Business Bankruptcy/Proposal) (This form must be completed by individual (consumer) bankrupts.
If the Bankrupt/Debtor is a corporation or partnership, or an individual running a business as a sole proprietorship, or any other form of business, form 10 must be completed) ☐ Original ☐ Amended Type of assets Description (provide details) Estimate dollar value Exempt property Yes No Secured amount/ liens Estimated net realizable dollar value ASSETS 1.

Cash on hand 2.

Furniture 3.

Personal effects 4.

Cash surrender value of life insurance policies, RRSPs, etc.

5.

Securities 6.
5.

Securities 6.

Real property or immovables 7.

Motor vehicle House Cottage Land Automobile Motorcycle Other 8.

Recreational equipment 9.

Estimated tax refund 10.

Other assets TOTAL Date Debtor 448 Bankruptcy and Insolvency Regulations, 2014 LIABILITIES Liabilities Type Code (LTC): 1.

Real property or immovable mortgage or hypothec 2.

Bank loans (except real property mortgage) 3.

Finance company loans 4. Credit cards - bank/trust company issuers 5. Credit cards - other issuers 6.
Taxes - government and municipal 7.

Student loans 8.

Loans from individuals 9.

Other Creditor Address, including postal code Account No.

Unsecured Amount of debt Secured Preferred Enter LTC 1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

12.

13.

14.

15.

TTOOTTAALL Unsecured TTOOTTAALL Secured TTOOTTAALL Preferred Date Bankrupt/Debtor Bankruptcy and Insolvency Regulations, 2014 449 AA.. IINNFFOORRMMAATTIIOONN RREELLAATTIINNGG TTOO TTHHEE AAFFFFAAIIRRSS OOFF TTHHEE BBAANNKKRRUUPPTT//DDEEBBTTOORR 1.
Family name: 2.

Also known as: Given names: Gender: F ☐ M ☐ Date of birth: _______/____/___ YYYY/MM/DD 3.

Complete address, including postal code: 4.

Marital status: (Specify month and year of event if it occurred in the last five Married years) Single Widowed Separated Divorced Common-law partner 5.

Full name of spouse or common-law partner: 6.

Name of present employer: Occupation (bankrupt/debtor): 7A.

Number of persons in household family unit, including bankrupt/debtor: 7B.
Number of persons 18 years of age or younger: 8.

Have you operated a business Yes ☐ No ☐ (If yes) Name, type and period of within the last five years?

operation: BB.. WWIITTHHIINN TTWWEELLVVEE MMOONNTTHHSS PPRRIIOORR TTOO TTHHEE DDAATTEE OOFF TTHHEE IINNIITTIIAALL BBAANNKKRRUUPPTTCCYY EEVVEENNTT,, HHAAVVEE YYOOUU EEIITTHHEERR IINN TTRRIINNIIDDAADD AANNDD TTOOBBAAGGOO OORR EELLSSEEWWHHEERREE:: 9A.

Sold or disposed of any of your property?

Yes ☐ 9B.
Yes ☐ 9B.

Made payments in excess of the regular payments to creditors?

Yes ☐ 9C.

Had any property seized by a creditor?

Yes ☐ No ☐ No ☐ No ☐ CC.. WWIITTHHIINN FFIIVVEE YYEEAARRSS PPRRIIOORR TTOO TTHHEE DDAATTEE OOFF TTHHEE IINNIITTIIAALL BBAANNKKRRUUPPTTCCYY EEVVEENNTT,, HHAAVVEE YYOOUU,, EEIITTHHEERR IINN TTRRIINNIIDDAADD AANNDD TTOOBBAAGGOO OORR EELLSSEEWWHHEERREE:: 10.

Sold or disposed of any property?

10B.

Made any gifts to relatives or others in excess of $500?
Yes ☐ Yes ☐ No ☐ No ☐ Date Bankrupt/Debtor 450 Bankruptcy and Insolvency Regulations, 2014 DD.. BBUUDDGGEETT IINNFFOORRMMAATTIIOONN:: AAttttaacchh FFoorrmm 1177 ttoo tthhiiss ffoorrmm 11A.

Have you ever made a proposal under the Bankruptcy and Insolvency Act?

Yes ☐ No ☐ 11B.

Have you ever been bankrupt before in Trinidad and Tobago?
Yes ☐ No ☐ (If yes, provide the following details for all insolvency proceedings: (a) filing date and location of the proceedings; (b) name of trustee or other office holder; (c) if applicable, was the proposal successful?

; (d) date on which Certificate of Full Performance of Discharge was obtained.)

12.

Do you expect to receive any sums of money that are not related to your normal income or any other property within the next 12 months?

Yes ☐ No ☐ 13.
Yes ☐ No ☐ 13.

If you answered Yes to any of questions 8, 9 or 11, provide details: 14.
Provide reasons for your financial difficulties: I, __________________________, of __________________________________________________ do swear (or solemnly declare) that this statement is, to the best of my knowledge, a full, true and complete statement of my affairs on the ________ day of _______________________ and fully discloses all property and transactions of every description that is or was in my possession or that may devolve on me in accordance with the Bankruptcy and Insolvency Act.
SWORN (or SOLEMNLY DECLARED) before me at _______________________________ on this _____ day of ___________________ _____.
________________________________ Commissioner of Affidavits ________________________ Bankrupt/Debtor Bankruptcy and Insolvency Regulations, 2014 451 FORM 12 [Sections 27, 32(1)(e)(i), 71(1), 73(1)(d), 93(3), 100 and 115 of the Act and Regulations 18, 20, 52 and 97] PROOF OF CLAIM All notices or correspondence regarding this claim must be forwarded to the following address:________________________________________________________________________________________ _______________________________________________________________________________________________ In the matter of the bankruptcy (or the proposal or the receivership) of_______________________ (name of debtor) of ________________ (city and province) and the claim of ____________________, creditor.
I, ____________________________________ (name of creditor or representative of the creditor), of ________________________ (city and province), do hereby certify: 1.

That I am a creditor of the above-named debtor [or that I am __________________ (state position or title) of ___________________ (name of creditor or representative of the creditor)].

2.

That I have knowledge of all of the circumstances connected with the claim referred to below.

3.
3.

That the debtor was, at the date of bankruptcy (or the date of the receivership or, in the case of a proposal, the date of the notice of intention or of the proposal, if no notice of intention was filed), namely the ______ day of _________________, and still is, indebted to the creditor in the sum of $____________, as specified in the statement of account (or affidavit) attached and marked Schedule “A”, after deducting any counterclaims to which the debtor is entitled.
(The attached statement of account or affidavit must specify the vouchers or other evidence in support of the claim.)

4.

Check and complete appropriate category ☐ A.

Unsecured Claim of $____________.

That in respect of this debt, I do not hold any assets of the debtor as security and (Check appropriate description) ☐ Regarding the amount of $_______, I claim a right to a priority under section 127 of the Act.

☐ Regarding the amount of $_______, I do not claim a right to a priority.
(Set out on an attached sheet details to support priority claim) 452 Bankruptcy and Insolvency Regulations, 2014 ☐ B.

Secured Claim of $_____________.

That in respect of this debt, I hold assets of the debtor valued at $______ as security, particulars of which are as follows: (Give full particulars of the security, including the date on which the security was given and the value at which you assess the security, and attach a copy of the security documents) ☐ C. Claim by Farmer or Fisherman of $_______.
That I hereby make a claim under section 73 of the Act for the unpaid amount of $_______.

(Attach a copy of sales agreement and delivery receipts) ☐ D. Claim by Wage Earner of $_______________.

☐ That I hereby make a claim in terms of section 127(1)(d) in the amount of $________.

☐ E. Claim by Employee for Unpaid amount regarding Pension Plan of $____________.

☐ That I hereby make a claim under section 127(1)(e) of the Act in the amount of $_______.

5.
5.

That, to the best of my knowledge, I am (or the above-named creditor is) (or am not or is not) related to the debtor within the meaning of the Act, and have (or has) (or have not or has not) dealt with the debtor in a non-arm’s-length manner.

6.
That the following are the payments that I have received from, the credits that I have allowed to, and the transfers at undervalue within the meaning of the Act that I have been privy to or a party to with the debtor within the three months (or, if the creditor and the debtor are related within the meaning of the Act or were not dealing with each other at arm’s length, within the twelve months) immediately before the date of the initial bankruptcy event: (provide details of payments, credits and transfers at undervalue).
7.

(Applicable only in the case of the bankruptcy of an individual) ☐ Whenever the trustee reviews the financial situation of a bankrupt to re-determine whether or not the bankrupt is required to make payments under section 53 of the Act, I request to be informed, pursuant to section 53 of the Act, of the new fixed amount or of the fact that there is no longer surplus income.
☐ I request that a copy of the report filed by the trustee regarding the bankrupt’s application for discharge pursuant to section 162(1) of the Act be sent to the above address.

Dated at ______________________, this ______________day of ________________.

________________________________ Witness ________________________________ Creditor Telephone No.

: ____________________ Fax No.


: _________________________ e-mail address: ___________________ NOTE: If an affidavit is attached, it must have been made before a person qualified to take affidavits.

WARNINGS: A trustee may redeem a security on payment to the secured creditor of the debt or the value of the security as assessed, in a proof of security, by the secured creditor.

The Act provides severe penalties for making any false claim, proof, declaration or statement of account.
Bankruptcy and Insolvency Regulations, 2014 453 FORM 13 [Section 30(1) of the Act and Regulation 19(1)] NOTICE OF INTENTION TO MAKE A PROPOSAL Take notice that: 1.

I, _______________________________________, an insolvent person, state, pursuant to section 30(1) of the Act, that I intend to make a proposal to my creditors.

2.
2.

___________________________________________________ (name of trustee), of __________________________________________ (address of trustee), a licenced trustee, has consented to act as trustee under the proposal.

A copy of the consent is attached.

3.

A list of the names of the known creditors with claims of $250 or more and the amounts of their claims is also attached.

4.
4.

Pursuant to section 55 of the Act, all proceedings against me are stayed as of the date of filing of this notice with the Supervisor.

Dated at __________________, this ______ day of __________ ______.
To be completed by Supervisor: Filing Date ________________________ ______________________________ Insolvent Person ______________________________ Supervisor 454 Bankruptcy and Insolvency Regulations, 2014 FORM 14 [Sections 26(14)(b) and 30(2)(b) of the Act and Regulation 19(2)(a)] TRUSTEE’S REPORT ON CASH FLOW STATEMENT The attached statement of projected cash flow of ____________________ (name of insolvent person), as of the ______ day of __________ ____, consisting of _________________ (describe, including relevant dates), has been prepared by the management of the insolvent person (or the insolvent person) for the purpose described in Note _____, using the probable and hypothetical assumptions set out in Notes _____.
Our review consisted of inquiries, analytical procedures and discussions related to information supplied to us by the management and employees of the insolvent person (or the insolvent person).

Since hypothetical assumptions need not be supported, our procedures with respect to them were limited to evaluating whether they were consistent with the purpose of the projection.
We have also reviewed the support provided by management (or the insolvent person) for the probable assumptions and preparation and presentation of the projection.
Based on our review, nothing has come to our attention that causes us to believe that, in all material respects– (a) the hypothetical assumptions are not consistent with the purpose of the projection; (b) as at the date of this report, the probable assumptions developed are not suitably supported and consistent with the plans of the insolvent person or do not provide a reasonable basis for the projection, given the hypothetical assumptions; or (c) the projection does not reflect the probable and hypothetical assumptions.
Since the projection is based on assumptions regarding future events, actual results will vary from the information presented even if the hypothetical assumptions occur, and the variations may be material.

Accordingly, we express no assurance as to whether the projection will be achieved.

The projection has been prepared solely for the purpose described in Note ____, and readers are cautioned that it may not be appropriate for other purposes.
Dated at __________________, this ______ day of __________ ______.

______________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 455 [Sections 26(14)(c) and 30(2)(c) of the Act and Regulation 19(2)(b)] FORM 15 REPORT ON CASH FLOW STATEMENT BY THE PERSON MAKING THE PROPOSAL The ___________________ (management, receiver, liquidator, etc.)
of _____________________ (name of insolvent person) or I, _________________________ (name of insolvent person), has/have developed the assumptions and prepared the attached statement of projected cash flow of the insolvent person, as of the ______ day of __________ ____, consisting of __________________ (describe, including relevant dates).
The hypothetical assumptions are reasonable and consistent with the purpose of the projection described in Note ____, and the probable assumptions are suitably supported and consistent with the plans of the insolvent person and provide a reasonable basis for the projection.

All such assumptions are disclosed in Notes ____.

Since the projection is based on assumptions regarding future events, actual results will vary from the information presented, and the variations may be material.
The projection has been prepared solely for the purpose described in Note _____, using a set of hypothetical and probable assumptions set out in Notes _____.

Consequently, readers are cautioned that it may not be appropriate for other purposes.

Dated at __________________, this ______ day of __________ ______.
__________________________________ Name of the person making the proposal __________________________________ Name and title of signing officer __________________________________ Name and title of signing officer 456 Bankruptcy and Insolvency Regulations, 2014 FORM 16 [Section 30(8)(b) of the Act and Regulation 19(3)] REPORT OF TRUSTEE ON NON-FILING OF CASH FLOW STATEMENT OR PROPOSAL I, ________________________, of ________________________, the trustee under a notice of intention to make a proposal filed by __________________________, an insolvent person, hereby report to the Supervisor as follows: 1.
That the insolvent person did, on the ______ day of ____________ ____, file with the Supervisor a notice of intention to make a proposal.

2.

That: (Check appropriate description.)


 a projected cash flow statement was not filed within the period of ten days after the filing of the notice of intention a proposal was not filed within the period of thirty days after the day on which the notice of intention was filed or within any extension of that period granted by the court under section 30(9) of the Act.

(If an extension of time has been granted by the court, attach a copy of the court order.)
Dated at __________________, this ______ day of __________ ______.
______________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 457 FORM 17 [Section 30(8)(b) and Regulation 19(4)] CERTIFICATE OF ASSIGNMENT In the Republic of Trinidad and Tobago In the Matter of the Bankruptcy of: ________________________________ Debtor ________________________________ Trustee ______________________________________________________________________________ Date of bankruptcy: Security: Meeting of creditors: Chair: Designated person: ______________________________________________________________________________ CERTIFICATE OF ASSIGNMENT [Section 30(8)(b) of the Act] I, the undersigned, the Supervisor of Insolvency, do hereby certify that the insolvent person did, on the ______ day of ____________ ____, file with me a notice of intention to make a proposal, and that: (Check appropriate description.)
☐ a projected cash-flow statement was not filed within the period of ten days after the filing of the notice of intention ☐ a proposal was not filed within the period of thirty days after the day on which the notice of intention was filed or within any extension of that period granted by the court under section 30(9) of the Act.

Consequently, the debtor is deemed to have made an assignment.
The appointed trustee is required– (a) to provide to me, without delay, security in the aforementioned amount; (b) to send to all creditors, within five days after the date of the trustee’s appointment, a notice of the bankruptcy; and (c) when applicable, to call in the prescribed manner a first meeting of creditors, to be held at the aforementioned time and place or at any other time and place that may be later requested by me.
__________________________________ Date __________________________________ Supervisor 458 Bankruptcy and Insolvency Regulations, 2014 FORM 18 [Section 32(1) of the Act and Regulation 20] NOTICE OF MEETING OF CREDITORS TO CONSIDER PROPOSAL Take notice that: 1.
A meeting of creditors has been called to consider the proposal made by________________________, an insolvent person (or a receiver, or the liquidator of an insolvent person’s property, or a bankrupt, or the trustee of the estate of a bankrupt), a copy of which proposal was filed with the Supervisor on the ______ day of ____________, ____.

2.

The meeting of creditors will be held at ________________, on the ______ day of ____________ ____ at ____o'clock.

3.
3.

The creditors may, by ordinary resolution, voting all as one class, accept or refuse the proposal as filed or as altered at the meeting, subject to the rights of secured creditors.

4.
4.

Attached are the following documents: 4.1 a voting letter form; 4.2 a proxy form; 4.3 a condensed statement of the assets and liabilities; 4.4 a list of the creditors with claims amounting to two hundred and fifty dollars or more and the amounts of their claims as known or shown by the books of the debtor; 4.5 a copy of the proposal; 4.6 proof of claim (or proof of secured claim, if applicable).

5.
5.

In order to be entitled to vote at the meeting, a creditor must prove a claim before the time appointed for the meeting.

6.

A creditor who has proved a claim may indicate assent to or dissent from the proposal to me at or before the meeting of creditors, and any assent or dissent I receive at or before the meeting will have the same effect as if the creditor were present and had voted at the meeting.

7.
7.

The proposal shall be deemed to be accepted by the creditors if, and only if, all classes of unsecured creditors vote for the acceptance of the proposal by a majority in number and two- thirds in value of the unsecured creditors of each class present, personally or by proxy, at the meeting and voting on the resolution.

8.
8.

Where there is no quorum of secured creditors in respect of a particular class of secured claims, the secured creditors having claims of that class shall be deemed to have voted for the refusal of the proposal.

9.

A creditor who is related to the debtor may vote against but not for the acceptance of the proposal.

Dated at __________________, this ______ day of __________ ______.
__________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 459 [Sections 32(1)(e)(iii), and 93(3) of the Act and Regulations 20 and 52] FORM 19 PROXY I, _____________________________________________________ (name of creditor), of__________________________________ (name of town or city), a creditor in the above matter, hereby appoint __________________, of ________________________, to be my proxy holder in the above matter, except as to the receipt of dividends, with (or without) power to appoint another proxy holder in his or her place.
Dated at __________________, this ______ day of __________ ______.
______________________________ Witness ________________________________ Individual Creditor ________________________________ Name of Corporate Creditor ______________________________ Witness Per _____________________________ Name and Title of Signing Officer 460 Bankruptcy and Insolvency Regulations, 2014 FORM 20 [Section 32(1)(f) of the Act and Regulation 20] VOTING LETTER In the matter of the proposal of ____________________________________________ I, ______________________________________, creditor (or I, ________________________, representative of _____________________, creditor), of ____________________________ (name of city), a creditor in the above matter for the sum of $__________, hereby request the trustee acting with respect to the proposal of __________________________ to record my vote ________________________ (for or against) the acceptance of the proposal as made on the ______ day of ____________ _____.
Dated at __________________, this ______ day of __________ ______.
_______________________ Witness ________________________________ Individual Creditor ________________________________ Name of Corporate Creditor ____________________________ Per_________________________ Witness Name and Title of Signing Officer Bankruptcy and Insolvency Regulations, 2014 461 FORM 21 [Section 38(b) of the Act and Regulation 21(1)] REPORT OF TRUSTEE ON REFUSAL BY CREDITORS TO APPROVE PROPOSAL I, ________________________, of ________________________, the trustee acting in the proposal of________________________, hereby report to the Supervisor as follows: 1.
That __________________________ did, on the _____ day of ____________ ______, file a proposal with me.

2.

That at the meeting of creditors held on the ____ day of ____________ ______ and presided over by ______________________, the creditors refused the proposal.

Dated at __________________, this ______ day of __________ ______.
______________________________ Trustee 462 Bankruptcy and Insolvency Regulations, 2014 FORM 22 [Section 43(2)(b) of the Act and Regulation 21(1)] REPORT OF TRUSTEE ON REFUSAL BY COURT TO APPROVE PROPOSAL I, ________________________, of ________________________, the trustee acting in the proposal of________________________, hereby report to the Supervisor as follows: 1.
That on the ____ day of ____________ ______, I applied to the __________________ Court of ______________________________ for approval of the proposal of _____________________________, a copy of which proposal was filed with the Supervisor on the ____ day of __________ ______, in accordance with section 44(1) of the Act.

2.

That the Court, by Order dated the ______ day of ____________ ____, refused to approve the proposal.

Dated at __________________, this ______ day of __________ ______.
______________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 463 FORM 23 [Section 38(b) of the Act and Regulation 21(2)] CERTIFICATE OF ASSIGNMENT In the Republic of Trinidad and Tobago In the Matter of the Bankruptcy of: ________________________________ Debtor ________________________________ Trustee ______________________________________________________________________________ Date of bankruptcy: Security: Meeting of creditors: Chair: Designated person: ______________________________________________________________________________ CERTIFICATE OF ASSIGNMENT [Section 38(b) of the Act] I, the undersigned, the Supervisor of Insolvency, do hereby certify that– (a) a proposal in respect of the aforementioned debtor was filed under section 44(1) of the Bankruptcy and Insolvency Act; and (b) the creditors, at a meeting held to consider the proposal, refused to accept the proposal and the debtor is there upon deemed to have made an assignment.
Consequently, the appointed trustee is required– (a) to provide to me, without delay, security in the aforementioned amount; (b) to send to all creditors, within five days after the date of the trustee’s appointment, a notice of the bankruptcy; and (c) when applicable, to call in the prescribed manner a first meeting of creditors, to be held immediately following the meeting held to consider the proposal or at the aforementioned time and place or at any other time and place that may be later requested by me.
___________________________ Date ___________________________ Supervisor 464 Bankruptcy and Insolvency Regulations, 2014 FORM 24 [Section 43(2)(b) and Regulation 21(3)] CERTIFICATE OF ASSIGNMENT In the Matter of the Bankruptcy of: ________________________________ Debtor ________________________________ Trustee ______________________________________________________________________________ Date of bankruptcy: Meeting of creditors: Chair: Security: Designated person: ______________________________________________________________________________ CERTIFICATE OF ASSIGNMENT [Section 43(2)(b) of the Act] I, the undersigned, the Supervisor of Insolvency, do hereby certify that– (a) a proposal in respect of the aforementioned debtor was filed under section 44(1) of the Bankruptcy and InsolvencyAct; and (b) the Court, by its order, has refused to approve the proposal and the debtor is thereupon deemed to have made an assignment.
Consequently, the appointed trustee is required– (a) to provide to me, without delay, security in the aforementioned amount; (b) to send to all creditors, within five days after the date of the trustee’s appointment, a notice of the bankruptcy; and (c) when applicable, to call in the prescribed manner a first meeting of creditors, to be held at the aforementioned time and place or at any other time and place that may be later requested by me.
__________________________________ Date __________________________________ Supervisor Bankruptcy and Insolvency Regulations, 2014 465 FORM 25 [Section 46(6) of the Act and Regulation 23(1)] REPORT OF TRUSTEE ON ANNULMENT OF PROPOSAL I, ________________________, of ________________________, the trustee acting in the proposal of ________________________, hereby report to the Supervisor as follows: 1.
That __________________________ did, on the ______ day of ______________ _____, file a proposal with me, and that the ___________________ Court of _____________________ , by Order dated the ______ day of ____________ ____, has annulled the proposal.

2.

The proposal was annulled by the court on the application of ________________________, the trustee of the proposal (or a creditor of the debtor).

3.

The proposal was annulled on the grounds that (Check appropriate grounds.)
☐ the debtor has defaulted in the performance of a provision in the proposal.

☐ the proposal could not continue without injustice or undue delay.

☐ the approval of the court was obtained by fraud.

☐ the debtor was convicted of an offence under the Act.

(Specify: ___________________________) 4.

As a consequence of the annulment of the proposal, the debtor is deemed on the annulment to have made an assignment pursuant to section 46(4) of the Act.

5.
5.

The court further ordered that the property be vested in __________________________, the trustee.

(In the case of a proposal by a bankrupt, the previous paragraph is to be replaced by the following:) 6.

The court further ordered that the property vested in the bankrupt by the order approving the proposal, be re-vested in ________________________________, the trustee.

Dated at __________________, this ______ day of __________ ______.
______________________________ Trustee 466 Bankruptcy and Insolvency Regulations, 2014 FORM 26 [Section 46(6) of the Act and Regulation 23(2)] CERTIFICATE OF ASSIGNMENT In the Republic of Trinidad and Tobago In the Matter of the Bankruptcy of: ________________________________ Debtor ________________________________ Trustee ______________________________________________________________________________ Date of bankruptcy: Meeting of creditors: Chair: Security: Designated person: ______________________________________________________________________________ CERTIFICATE OF ASSIGNMENT (Section 46(6) of the Act) I, the undersigned, the Supervisor of Insolvency, do hereby certify that– (a) a proposal in respect of the aforementioned debtor was filed under section 44(1) of the Bankruptcy and InsolvencyAct; and (b) the said proposal, although accepted and approved, has been annulled by order of the Court and the debtor is thereupon deemed to have made an assignment.
Consequently, the appointed trustee is required– (a) to provide to me, without delay, security in the aforementioned amount; (b) to send to all creditors, within five days after the date of the trustee’s appointment, a notice of the bankruptcy; and (c) when applicable, to call in the prescribed manner a first meeting of creditors, to be held at the aforementioned time and place or at any other time and place that may be later requested by me.
__________________________________ Date __________________________________ Supervisor Bankruptcy and Insolvency Regulations, 2014 467 FORM 27 (Section 50 of the Act and Regulation 25) CERTIFICATE OF FULL PERFORMANCE OF PROPOSAL I, _____________________________________, the trustee acting in the proposal of ___________________________________, certify that the proposal, as filed with the Supervisor on the ____ day of ____________ ____ (and, if applicable, as amended on the ___ day of ____________ ____), has been fully performed as of the ____ day of ______ ____.
Dated at ______________________, this ______________day of ________________.

NOTE: A copy of this certificate is to be sent to both the Debtor and the Supervisor pursuant to section 50 of the Act.
_________________________ Trustee 468 Bankruptcy and Insolvency Regulations, 2014 FORM 28 [Section 53(1) and 93(4)(a) and Regulation 27] MONTHLY INCOME AND EXPENSE STATEMENT OF THE BANKRUPT/DEBTOR AND THE FAMILY UNIT AND INFORMATION (OR AMENDED INFORMATION) CONCERNING THE FINANCIAL SITUATION OF THE INDIVIDUAL BANKRUPT ☐ Original ☐ Amended Information concerning the monthly income and expense statement of the bankrupt/debtor and the family unit, financial situation of the bankrupt/debtor and bankrupt’s obligation to make payments required under section 68 of the Act to the estate of the bankrupt are as follows: MONTHLY INCOME Bankrupt/Debtor Other members of the Total family unit ... ... ... ... ... Net employment income ... Net pension/annuities ... Net child support Net spousal support ... Net employment insurance benefits ... Net social assistance ... Self-employment income Gross _________Net Other net income (Such as amounts received as damages for wrongful dismissal, as pay equity settlement, or that relate to workers’ compensation) (Provide details ___________ ) ... ... ... ... ... ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... TOTAL MONTHLY INCOME ... ... $___________(1) $____________(2)* TOTAL MONTHLY INCOME OF THE FAMILY UNIT [(1) + (2)] MONTHLY NON-DISCRETIONARY EXPENSES ☐ $________(3) ... Child support payments ... Spousal support payments ... ... Child care Health condition expenses ... Fines/penalties imposed by the
 Court Expenses as a condition of employment ... Debts where stay has been lifted Other expenses ... (Provide details ) ... ... ... ... ... ... ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ ... _____________ TOTAL MONTHLY NON-DISCRETIONARY EXPENSES $ ___________(4) $ _________ (5) TOTAL MONTHLY NON-DISCRETIONARY EXPENSES OF THE FAMILY UNIT [(4) + (5)] ☐ $ ________ (6) AVAILABLE MONTHLY INCOME OF THE BANKRUPT/DEBTOR [(1) - (4)] ... ... $_________ (7) AVAILABLE MONTHLY INCOME OF THE FAMILY UNIT [(3) - (6)] BANKRUPT’S/DEBTOR’S PORTION OF THE AVAILABLE MONTHLY INCOME OF THE FAMILY UNIT [(7) / (8) X 100] _______________________________ ☐ $_________(8) ☐ $________(9) * If one or more members of the bankrupt’s/debtor’s family unit have refused to divulge this information, please provide details.
Bankruptcy and Insolvency Regulations, 2014 469 MONTHLY DISCRETIONARY EXPENSES: (Family unit) HHoouussiinngg eexxppeennsseess Rent/mortgage etc.
Property taxes ... ... Gas ... Telephone ... Cable LLiivviinngg eexxppeennsseess Food/grocery Laundry/dry cleaning Grooming/toiletries Clothing Other TTrraannssppoorrttaattiioonn eexxppeennsseess ... ______ ... ______ ... ______ ... ______ ... ______ ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... Water ... Furniture Other ... PPeerrssoonnaall eexxppeennsseess ... ...
Smoking Alcohol ... ... Dining/lunches/restaurants Entertainment/sports ... Gifts/charitable donations ... Allowances Other ... NNoonn--rreeccoovveerraabbllee mmeeddiiccaall eexxppeennsseess ...

Prescriptions ...

Dental ... Other ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ______ ... ... ...
Car lease/payments ... Repair/maintenance/gas ... ... Public transportation Other ... IInnssuurraannccee eexxppeennsseess Vehicle House Furniture/contents Life insurance ... ... Other PPaayymmeennttss ... To the estate To secured creditor ... (Not mortgage and vehicle) ... Other ... ... ... ... ... ... ... ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ ... ____ TOTAL MONTHLY DISCRETIONARY EXPENSES (FAMILY UNIT)–$______(10) MONTHLY SURPLUS OR (DEFICIT) FAMILY UNIT [(8) - (10)]=$______(11) _______________________________________________________________________________________________ INFORMATION (OR AMENDED INFORMATION) CONCERNING THE FINANCIAL SITUATION OF THE INDIVIDUAL BANKRUPT PPaayymmeennttss ttoo tthhee eessttaattee aass ppeerr aaggrreeeemmeenntt Number of persons in household family unit, including bankrupt: __________ Total amount bankrupt has agreed to pay monthly Amount bankrupt has agreed to pay monthly to repurchase assets (Provide details)__________________________ Residual amount paid into the estate [(12) - (13)] ... ... ... ... ... ... ... ... ... ... ... _______(12) ... ________(13) ... ________(14) PPaayymmeennttss rreeqquuiirreedd ((SSuurrpplluuss IInnccoommee)) Monthly amount required (Surplus Income) based on percentage established on line (9) ________(15) Difference between (14) and (15) ... ________(16) Other applicable comments (If amount on line (14) is less than amount on line (15),
 explain why the required payments are not being made: ______________________) Amendment or material change (If the information relates to a material change or an amendment, provide details: _____________________________________) ... ... ... ... ...
Dated at ______________________, this ______________day of ________________.

__________________________________ Trustee ________________________________ Bankrupt/Debtor NOTES: In a joint assignment, only one form is required and each debtor’s monthly income and non- discretionary expenses have to be explained in detail.
470 Bankruptcy and Insolvency Regulations, 2014 [Section 53(5), (6) and 163(4), (5) of the Act and Regulation 32] FORM 29 REQUEST FOR MEDIATION MADE BY TRUSTEE I, ___________________________, trustee of the estate of _____________________________, a bankrupt, who made an assignment (or against whom a bankruptcy order was made) on the ______ day of ______________ ______, hereby apply to the Supervisor to refer this matter to the mediator, who shall set the time and place for the mediation.
This application for mediation is being made for the following reasons: [Check appropriate description(s)] ☐ Section 53(5)–There is disagreement as to the amount of surplus income to be paid by the bankrupt.

☐ Section 53(6)–There is a written request from____________________________, a creditor, _____________________________________ (creditor’s address), to proceed with the mediation process.
☐ Section 163(5)–The trustee is opposed to the discharge of the bankrupt on a ground referred to in section 165(1)(m) or (n) of the Act.

☐ Section 163(5)–_____________________________________________, a creditor, ________________________________ (creditor’s address), is opposed to the discharge of the bankrupt on a ground referred to in section 165(1)(m) or(n) of the Act.

An income and expense statement of the bankrupt is attached to this request (Form 23).
[Indicate names, mailing addresses, phone numbers and e-mail addresses of all parties, including the trustee’s representative (if applicable)] ________________________________________________________________________________________________ ________________________________________________________________________________________________ ________________________________________________________________________________________________ [Provide details (names and estate number) of any related estate file requiring concurrent mediation (e.g., spousal file)] ________________________________________________________________________________________________ ________________________________________________________________________________________________ ________________________________________________________________________________________________ [Check applicable box(es)] Has a Mediation Settlement Agreement (Form 29) been reached by the parties?
☐ Yes ☐ No Bankruptcy and Insolvency Regulations, 2014 471 If “yes”, (i) Has the Mediation Settlement Agreement (Form 29) been signed by the parties?

☐ Yes, and a copy of the signed settlement agreement is attached to this request.

☐ No, but details pertaining to the settlement agreement (draft - Form 29) are attached to this request.

(ii) Are you willing to proceed with this mediation via e-mail, if applicable?

☐ Yes ☐ No Dated at ______________________, this ________ day of ________________.
____________________________ Trustee 472 Bankruptcy and Insolvency Regulations, 2014 FORM 30 (Regulation 36) NOTICE OF MEDIATION To: _________________________________________ Bankrupt To: _________________________________________ Trustee To: _________________________________________ Creditor(s) (if applicable:) Take notice that the mediation in the matter of the bankruptcy of ______________________, a bankrupt, will be held in __________ on the ______ day of __________________ ______ (or as soon as possible) at _____________________________________________________.
The mediation will be held for the following reasons: (Check appropriate description) ☐ Section 53(5)–There is disagreement as to the amount of surplus income to be paid by the bankrupt.

☐ Section 53(6)–There is a written request from __________________________, a creditor, _____________________________ (creditor’s address), to proceed with the mediation process.

☐ Section 163(5)–The trustee is opposed to the discharge of the bankrupt on a ground referred to in section 165(1)(m) or(n) of the Act.
☐ Section 163(5)–________________________________________________, a creditor, _________________________________________________ (creditor’s address), is opposed to the discharge of the bankrupt on a ground referred to in section 165(1)(m) or (n) of the Act.

Further take notice that the mediation can only be rescheduled on extraordinary grounds and that, under the Bankruptcy and Insolvency Regulations, only one such adjournment will be allowed.
Therefore, if the mediation has already been adjourned and a second adjournment is requested, regardless of the ground for adjournment, the mediator must cancel the mediation.

Dated at ______________________, this ______________day of ________________.
____________________________ Mediator Bankruptcy and Insolvency Regulations, 2014 473 FORM 31 (Regulation 44) NOTICE OF NON-RESOLUTION OF MEDIATION Take notice that in the matter of the mediation of ____________________________, bankrupt, which was held on the ______ day of ____________________________, the issues submitted to mediation were not resolved because the parties have failed to reach an agreement.

Dated at __________________, this ______ day of ________________.
____________________________ Mediator 474 Bankruptcy and Insolvency Regulations, 2014 FORM 32 (Regulation 45) NOTICE OF CANCELLATION OF MEDIATION Take notice that the mediation of issues related to the bankruptcy of __________________________________________, a bankrupt was cancelled for the following reason: (Check appropriate description) ☐ There was an outstanding opposition to the discharge of the bankrupt on a ground referred to in section 165(1)(a) to (l) or (o) of the Act.
☐ I believe on reasonable grounds that ___________________________ (indicate the bankrupt, the trustee or a creditor, as applicable) abused the rescheduling procedures.

☐ A second adjournment was requested or circumstances causing an adjournment occurred after one adjournment had already been granted.
☐ I believe on reasonable grounds that_____________________________ (indicate the bankrupt or a creditor, as applicable), in the case of a mediation requested by a creditor under section 163(5) of the Act, cannot continue the mediation at all.

☐ I believe that the non-appearance of all creditors, who were informed of the mediation, is a delaying tactic or is intended to bring the mediation into disrepute.
☐ I believe that, in the case of a mediation requested by a creditor under section 163(5), the non-appearance of ____________________________ (indicate the bankrupt or a creditor, as applicable), who was informed of the mediation, is a delaying tactic or is intended to bring the mediation into disrepute.
☐ I believe that the non-appearance of __________________________ (indicate the bankrupt or the trustee, as applicable), who was informed of the mediation, is a delaying tactic or is intended to bring the mediation into disrepute.

Dated at ______________________, this ______________day of ________________.
____________________________ Mediator Bankruptcy and Insolvency Regulations, 2014 475 FORM 33 [Regulation 47(1)] MEDIATION SETTLEMENT AGREEMENT ☐ Final ☐ Draft The parties acknowledge that an agreement was reached in the mediation held on the day of, June, and that the results of the mediation are as follows: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ (For the Expedited Mediation Process, use the following box:) The parties acknowledge that an agreement was reached before the mediation session and was confirmed by e-mail on ________________, the day of June, and that the results of the mediation are as follows: ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ CONFIDENTIALITY ☐ We accept that the mediator cannot be asked by any of the parties to testify in any proceedings before a court of law.
☐ We accept that all statements or documents obtained during the course of mediation, which would not have been obtained otherwise, will not be used when discussing the matter before the court or during any other proceedings.

Also, we accept that all the information obtained during the course of mediation will not be admissible as evidence or to impeach the credibility of a party.
☐ We understand that the mediator or any party to the mediation shall not disclose to the public any confidential information concerning an issue submitted to mediation unless the disclosure is– (a) required by law; and (b) authorized by the person to whom the confidential information relates.

476 Bankruptcy and Insolvency Regulations, 2014 SIGNATURE OF THE MEDIATION AGREEMENT We hereby agree that this agreement may be signed in counterparts and submitted electronically to the Office of the Supervisor.
Dated at ______________________, this ______________day of ________________.
____________________________ Bankrupt ____________________________ Trustee ____________________________ Creditor (as applicable) ______________________________ Bankrupt’s Attorney-at-law (if applicable) ______________________________ Trustee’s Attorney-at-law (if applicable) ______________________________ Creditor’s Attorney-at-law (if applicable) Bankruptcy and Insolvency Regulations, 2014 477 FORM 34 [Regulation 49(3)] NOTICE OF DISPUTE To: The Trustee in the bankrupt estate of _________________________________________.
With reference to your written request dated the _______ day of ________________ ______, requiring me to contribute to the bankrupt estate of the aforementioned debtor pursuant to section 67(1) of the Bankruptcy and Insolvency Act, I hereby notify you that I dispute the liability set out in your request.
The items in your request that I dispute are as follows: ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ The grounds for disputing these items are as follows: ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ Dated this _____ day of ___________________ __________.
_____________________ Contributor NOTES: 1.

This notice must be given to the trustee within thirty days of his written request having been served on the contributor.

2.

Except with the leave of the Court, in any proceedings brought against the contributor by the trustee the contributor may not plead any other ground of dispute than those declared above.
478 Bankruptcy and Insolvency Regulations, 2014 FORM 35 [Regulation 49(5)] NOTICE OF HEARING TO CONTRIBUTOR Take notice that the hearing for the determination of the dispute between __________________________________________ (the trustee) of the bankrupt estate of _____________________________ (bankrupt) and ____________________________ (name of contributor) pursuant to section 67(1) of the Bankruptcy and Insolvency Act, will be held before the ________________ Court at _____________________ on the _______ day of _________________________ at ___________o’clock.
Dated at ____________________ on this ______ day of ______________________.

___________________ Trustee Bankruptcy and Insolvency Regulations, 2014 479 FORM 36 [Section 93(1)(b) of the Act and Regulation 52] NOTICE OF BANKRUPTCY, FIRST MEETING OF CREDITORS (Where the bankrupt is an individual, add:) and Impending Automatic Discharge of Bankrupt (Section 145(i)(i)and (ii) of the Act and Regulation 58) ☐ Original ☐ Amended Take notice that: 1.
________________________ (name of bankrupt) filed (or was deemed to have filed) an assignment [or a bankruptcy order was made against _____________________________ (name of bankrupt)] on the ______ day of _________________, and the undersigned, _______________ (name of trustee), was appointed as trustee of the estate of the bankrupt by the Supervisor (or the Court); subject to affirmation by the creditors of the trustee’s appointment or substitution of another trustee by the creditors.

2.
2.

The first meeting of creditors of the bankrupt will be held on _____________________________ (date), at __________________ (time) at the office of __________________________ (meeting office), at ________________________ (address of meeting office).

3.

To be entitled to vote at the meeting, a creditor must file with the trustee, before the meeting, a proof of claim and, where necessary, a proxy.

4.
4.

Enclosed with this notice are a proof of claim form, proxy form and list of creditors with claims amounting to $100 or more showing the amounts of their claims.

5.

Creditors must prove their claims against the estate of the bankrupt to share in any distribution of the proceeds realized from the estate.

(Where the bankrupt is an individual, include paragraphs 6, 7, 8, 9 and 10) 6.
Included pursuant to section 93(3) of the Act is information concerning the financial situation of the bankrupt and the obligation of the bankrupt to make payments to the estate of the bankrupt, as required under section 53 of the Act.

The following, if applicable: 7.


Pursuant to section 160 of the Act, the bankrupt will be given an automatic discharge on the ______ day of _________________, unless the Supervisor, the trustee of the estate of the bankrupt or a creditor of the bankrupt gives notice of intended opposition to the discharge of the bankrupt before that date.
480 Bankruptcy and Insolvency Regulations, 2014 (Check appropriate provision in respect of the bankrupt’s discharge) In the case of an individual who has never before been bankrupt: ☐ on the expiry of nine months after the date of bankruptcy; ☐ on the expiry of twenty-one months after the date of bankruptcy where the bankrupt is required to make payments under section 53 of the Act to the estate.
In the case of an individual who has been a bankrupt one time before: ☐ on the expiry of twenty-four months after the date of bankruptcy; ☐ on the expiry of thirty-six months after the date of bankruptcy where the bankrupt is required to make payments under section 53 of the Act to the estate.

8.
8.

Any creditor who intends to oppose the discharge of the bankrupt shall state in writing the grounds for his/her opposition and send a notice to this effect to the office of the Supervisor, the trustee of the estate of the bankrupt and the bankrupt at any time before the _____ day of ___________ ____.

(Insert the same date as in item 7).

9.

If any creditor opposes the discharge of the bankrupt, a court fee applies.

10.
10.

If the discharge of the bankrupt is opposed, the trustee will apply to the Court without delay for an appointment for the hearing of the opposition in accordance with the Act unless it is a matter to be dealt with by mediation pursuant to section 163(4) of the Act.

Dated at ______________________, this ______________day of ________________.
______________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 481 FORM 37 [Section 119(1) of the Act and Regulation 53] NOTICE BY TRUSTEE REQUIRING FILING OF PROOF OF SECURITY Take notice that: 1.

You are hereby required, pursuant to section 119(1) of the Act, to file with me a proof of claim and proof of security (security documents) relating to any security that you hold on the property of __________________, a bankrupt, which property is described below: (Describe the property.)

2.
2.

The proof of claim and proof of security must give full particulars of the security, including the date on which it was given and the value at which you assess it.

3.

If you do not file with me a proof of claim and proof of security in respect of the property within the thirty days after the day on which this notice is served I may, with leave of the court, sell or dispose of the property, free of your security.

4.

Proof of claim in the required form is attached.


Dated at __________________, this ______ day of __________ ______.
______________________________ Trustee 482 Bankruptcy and Insolvency Regulations, 2014 FORM 38 [Section 126(4) of the Act and Regulation 54] NOTICE OF DISALLOWANCE OF CLAIM, RIGHT TO PRIORITY OR SECURITY OR NOTICE OF VALUATION OF CLAIM Take notice that: (A) As trustee acting in the matter of the bankruptcy (or proposal) of __________________________, I have disallowed your claim (or your right to a priority or your security on the property) in whole (or to the extent of $____________), pursuant to section 126(3) of the Act, for the following reasons: (Set out the reasons for the disallowance.)
(or) (B) As trustee acting in the matter of the bankruptcy (or proposal) of ________________________, I have determined that your contingent or unliquidated claim is a provable claim and have valued it at $______________ and therefore, it is deemed a proved claim to this amount pursuant to section 126(2) of the Act.
And further take notice that if you are dissatisfied with my decision in disallowing your claim in whole or in part (or a right to rank or your security or valuation of your claim), you may appeal to the court within the thirty day period after the day on which this notice is served, or within any other period that the court may, on application made within the same thirty day period, allow.

Dated at __________________, this ______ day of __________ ______.
__________________________ Trustee Bankruptcy and Insolvency Regulations, 2014 483 [Regulations 59, 61(1)(c)(iii), 64(2)(c)(iii) and 64(4)(c)(iv)] FORM 39 NOTICE OF DEEMED TAXATION OF TRUSTEE’S ACCOUNTS, DEEMED DISCHARGE OF TRUSTEE AND CERTIFICATE OF COMPLIANCE SUMMARY ADMINISTRATION Take notice that: 1.

I, ___________________________trustee of the estate of ______________________, a bankrupt, under summary administration, have applied for taxation of my accounts and for my discharge.

2.
2.

The Supervisor has issued a letter of comment to me that does not request that my accounts be taxed by the Registrar.

3.

Attached to this notice are those documents listed in regulation 59(1)(a) to (c).

4.
4.

Any creditor may object to the taxation of my accounts and to my discharge, within thirty days after the date on which this notice is sent, by– (a) serving a notice of objection on me or sending me a notice of objection by registered mail or by courier; (b) filing a copy of the notice of objection with the Registrar, along with any applicable fee as specified in the tariff; or (c) sending a copy of the notice of objection to the Supervisor.
Where a creditor objects to the taxation of my accounts, I will apply to the Registrar for a date for the hearing of the objection and will send to any creditor who has objected a notice of the hearing.

5.
If I do not receive a notice of objection to the taxation of my accounts and to my discharge within thirty days after the date on which this notice is sent, I will: (a) at the expiration of that time limit, take my fee; (b) at the expiration of that time limit, if I have not already done so, send to each creditor his/her final dividend; and (c) within three months after the date on which this notice referred to in regulation 59(1) is sent, (i) close the bank account used in administering the estate of the bankrupt, if that account is not a consolidated account, or, where the account is a consolidated account, ensure that all estate funds have been withdrawn from it; (ii) remit any unclaimed dividends and undistributed funds to the Supervisor; and (iii) send a certificate of compliance, as provided below and deemed discharge to the Supervisor.
6.

After fulfilling the requirements of paragraph 5, I will be deemed to be discharged.

CERTIFICATE OF COMPLIANCE The undersigned has attached a Certificate of Compliance from (State Relevant Authority) that certifies the corporation has sent its most recent annual filings, paid its most recent filing fees, not dissolved, and is in “good standing”.

Dated at ________________________, this ______ day of ________________ _______.
_____________________ Trustee 484 Bankruptcy and Insolvency Regulations, 2014 FORM 40 (Regulation 60) NOTICE OF OBJECTION To: ________________________________________________________________________________________________ ________________________________________________________________________________________________ (Insert Trustee’s name and address as applicable) In the matter of ____________________________________________ regarding the debtor _______________________________(name of debtor), I, _____________________, (name of creditor of the debtor) object to the taxation of the trustee’s accounts on the grounds set out below.
Reason(s) for objection: ________________________________________________________________________________________________ ________________________________________________________________________________________________ ________________________________________________________________________________________________ This notice must be filed with the trustee within thirty days of the notice of taxation having been sent.

Dated at _______________, on this ______ day of _______________ _________.
_____________________________ Creditor Telephone No.

: Fax No.
: e-mail address: Bankruptcy and Insolvency Regulations, 2014 485 FORM 41 [Regulation 62(b), and 63(1)(a)] NOTICE OF HEARING TO CREDITOR Take notice that the hearing for the determination of the objection by _____________________________________ (the creditor) of the bankrupt estate of _____________________________ (bankrupt) against the taxation of the accounts of the trustee ____________________________ (name of trustee) pursuant to regulation 55(3)(b), will be held before the ________________ Court at _____________________ on the _______ day of __________________ ______ at ___________o’clock.
Dated at ____________________ on this ______ day of ________________ ______.
____________________________ Trustee 486 Bankruptcy and Insolvency Regulations, 2014 FORM 42 [Section 180(1) of the Act and Regulation 68(2)] APPLICATION FOR TRUSTEE LICENCE (INDIVIDUAL) GENERAL INFORMATION Candidate’s Name (as you would like it to appear on a trustee licence) Date of Birth ______________________________________________- Family Name Given Name(s) _____ / _____ / _____ year month day Other Previous Legal Names or Aliases ___________________________________________________ Business Address Home Address _________________________________ ________________________________ _________________________________ ________________________________ _________________________________ ________________________________ Telephone No.
: Fax No.

: e-mail Address: Current Employer _________________________________ _________________________________ Telephone No.

: Fax No.
: Employment Began _______/ _____ /______ year month day Professional organization(s) of which you are or were a member (if any) ________________________________________________________________________________________________ ________________________________________________________________________________________________ ________________________________________________________________________________________________ ATTESTATION REGARDING PREREQUISITE QUALIFICATIONS I hereby attest, pursuant to regulations 67, 68 and 71 of the Bankruptcy and Insolvency Regulations, that– (a) I am not an undischarged bankrupt; (b) I am eighteen years or older; (c) I am not mentally ill within the meaning of the Mental Health Act; (d) I am not disqualified from being a company director under the provisions of the Companies Act; (e) I meet the minimum criteria to be considered a fit and proper person under Schedule 3; (f) I am in good standing with and am not subject to any current disciplinary action by any professional organization of which I am or was a member; and Bankruptcy and Insolvency Regulations, 2014 487 (g) I am a member of the Institute of Chartered Accountants of Trinidad and Tobago (ICATT) or Institute of Chartered Accounts of the Caribbean (ICAC) or Institute of Internal Auditors of Trinidad and Tobago (IIATT) or Association of Chartered Certified Accountants (ACCA) or the Law Association of Trinidad and Tobago (delete whichever is not applicable).
DECLARATION REGARDING REPUTATION To assess whether you satisfy the reputation requirements under regulations 68 and 72 of the Bankruptcy and Insolvency Regulations, please answer the following questions: (a) Have you ever been found guilty of an indictable offence?

☐ Yes If yes, please provide details on the nature of the offence(s): ☐ No (b) Have you ever been found guilty of professional misconduct by any professional organization of which you are or were a member?
☐ Yes If yes, please provide details on the nature of the misconduct: ☐ No (c) Have you ever been in a state of insolvency?

☐ No ☐ Yes If yes, please provide details (estate name, estate number, district of the filing, date of discharge, etc.

): (d) Have you ever been a principal shareholder, director or officer of a bankrupt corporation?

☐ Yes If yes, please provide details (corporation’s estate name, estate number, district of the filing, date of discharge, etc.
): ☐ No INCOMPATIBLE ACTIVITY I attest that, should I be granted a trustee licence, I will not engage in an incompatible activity, including any activity that would or may be perceived to create a conflict of duties, compromise my ability to perform any professional engagement, or jeopardize my integrity, independence or competence.
CONSENT AND AUTHORIZATION I hereby consent to and authorize the Office of the Supervisor of Insolvency to publish my name and contact information on the Trustee Registry that is posted on the website if I am granted a trustee licence.

CONSENT TO BE BOUND BY THE CODE OF ETHICS I hereby consent to being bound by the code of ethics set out in regulations 73 to 92 of the Bankruptcy and Insolvency Regulations.
I understand that if I am found to have breached the code of ethics in any way the Supervisor is authorized to suspend or cancel my trustee licence as he deems appropriate.
DECLARATION AND SIGNATURE I, the undersigned, do solemnly declare that I am the applicant named in this application and that the information set out in this application and in the attached documents is, to the best of my knowledge and belief, true, correct and complete in all respects, and that I agree to respect the conditions contained in this form if the Supervisor issues me a licence.

Dated at _______________________, this __________day of ____________________ _____.
_______________________________ Applicant’s name in block letter ___________________________ Signature of applicant 488 Bankruptcy and Insolvency Regulations, 2014 REQUIRED DOCUMENTATION Please include the documents listed below with your application.

If any items are not provided, please indicate the reason for the information being excluded and the date when it will be provided to the Office of the Supervisor– 1.

A certificate of character from the Trinidad and Tobago Police Service.

2.
2.

Certificates you received from tertiary level institutions.

3.

A detailed description of your relevant experience (see attached table).

Where you intend to practice either with a trustee firm (i.e., partnership or corporate licence) or as an employee of another trustee.

4.
4.

A supporting letter in which a partner or the employer undertakes to provide the necessary resources (work facilities, equipment and personnel) that will be required for the execution of your duties as a trustee, as well as insurance coverage [professional liability insurance and employee dishonesty (fidelity) insurance].

5.

Two references signed by the respective referees who are familiar with your relevant experience.
In all other cases (to obtain authorization to begin accepting professional engagements)– 6.

A personal balance sheet.

7.

Details of necessary resources (work facilities, equipment and personnel) that will be at your disposal during the execution of your duties as a trustee, and of banking arrangements.

8.

Proof of insurance coverage [professional liability insurance and employee dishonesty (fidelity) insurance].
APPLICATION FOR A TRUSTEE LICENCE BREAKDOWN OF AREAS OF EXPERIENCE IN INSOLVENCY MATTERS Name of applicant: ______________________________________________________________________________ Firm: __________________________________________________________________________________________ Please provide a list of main activities you performed in relation to each category of work listed below together with your best estimate as to the percentage (%) of time expended on the activities throughout the experience period.
Consumer bankruptcies Proposals Percentage of overall time during the year Percentage of overall time during the year _______ _______ Commercial bankruptcies Interim Receiverships Percentage of overall time during the year Percentage of overall time during the year _______ _______ Bankruptcy and Insolvency Regulations, 2014 489 Receiverships, etc.

Percentage of overall time during the year _______ Other non-insolvency work (i.e.
audit, tax, accounting, forensic accounting) Percentage of time during the year ____________________________ Total years experience: ________________ I, the undersigned applicant for a trustee I, the undersigned, a trustee of the firm licence, hereby attest that the above information where the applicant is currently employed or faithfully reflects my experience in insolvency associated, hereby attest that the information matters and other fields during the periods provided by the applicant, for the period of time indicated.
with this firm, faithfully reflects the extent of his/her experience in insolvency matters and other fields.
________________________________ Signature of applicant ________________________________ Signature of Trustee Date: __________________________ ________________________________ Trustee’s name in block letters Date:___________________________ 490 Bankruptcy and Insolvency Regulations, 2014 FORM 43 [Section 181 of the Act and Regulation 68(3)] TRUSTEE LICENCE ((IInnddiivviidduuaall)) This is to certify that ________________________________________________________________________________________________ is licensed to act as a trustee in the Republic of Trinidad and Tobago.
This licence is subject to the following conditions: The Supervisor shall be informed without delay and in writing of any material change to the circumstances surrounding the granting of this licence.
____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ And valid for a period of three years from the date of issue.
______________________________ Supervisor ______________________________ Date Bankruptcy and Insolvency Regulations, 2014 491 FORM 44 [Section 180(1) of the Act and Regulation 69(2)] APPLICATION FOR TRUSTEE LICENCE (CORPORATION) GENERAL INFORMATION Name of corporation ____________________________________________________________________________ Address of head office ________________________________________________________ ________________________________________________________ Telephone No.
: _____________________________ Fax No.
: __________________________________ e-mail address: _____________________________ Incorporated: Date of Incorporation: Date of incorporation: ________/ _______ / ___________ year month day DECLARATION I, the undersigned, do solemnly declare that I am authorized to submit the present application on behalf of the corporation named herein and that the information set out in this application and in the attached documents is, to the best of my knowledge and belief, true, correct and complete in all respects.
Dated at ______________________, this ______________day of ________________.

___________________________________________________ Signature of applicant, on behalf of the corporation REQUIRED DOCUMENTATION Please include the documents listed below with your application.

If any items are not provided, please indicate the reason for the information being excluded and the date when it will be provided to the Office of the Supervisor.

1.
1.

The original or a certified true copy of the incorporating documents (letters patent, certificate of incorporation, memorandum or articles of association, and other pertinent documentation).

2.

The address of the head office and of every other office or place of business from which the corporate trustee intends to provide bankruptcy services.

3.

A personal balance sheet of the firm's managing trustee (as of the date of this application).

4.
4.

The name, residential address and occupation of each shareholder and of each person having a direct or indirect proprietary interest in the corporation (including the beneficial owner, if applicable).

5.

The number of shares (or proportion of total shares) and the classes of shares held by each shareholder in the corporation.

492 Bankruptcy and Insolvency Regulations, 2014 6.


A list of every trustee who is simultaneously a shareholder (or financial backer) of this corporation and of any other corporate trustee and all relevant details (i.e., names of those corporate trustees.

7.

The name, residential address and occupation of each director and of each officer of the corporation.

8.

The name and business address of every licenced trustee who will practice in an office or place of business of the corporate trustee.

9.
9.

Proof of insurance coverage [professional liability insurance and employee dishonesty (fidelity) insurance].
A copy of the following information must also be sent to the Supervisor: (a) details of necessary resources (work facilities, equipment and personnel) available for each office from which the corporate trustee intends to provide bankruptcy services, and of banking arrangements; and (b) if a trustee responsible for the administration of estates is replaced, a letter indicating which trustee will assume responsibility for those estates, and the signature of that trustee confirming his/her acceptance of the transfer.
Bankruptcy and Insolvency Regulations, 2014 493 FORM 45 [Section 181 of the Act and Regulation 69(3)] TRUSTEE LICENCE ((CCoorrppoorraattee)) This is to certify that _______________________________________________________________________________________________ is licenced to act as a trustee in the Republic of Trinidad and Tobago subject to the following condition(s): The Supervisor shall be informed without delay and in writing of any material change to the circumstances surrounding the granting of this licence.
____________________________________________________________________________________________ ____________________________________________________________________________________________ ____________________________________________________________________________________________ And valid for a period of three years from the date of issue.
____________________________________ ____________________________________ Supervisor Date 494 Bankruptcy and Insolvency Regulations, 2014 FORM 46 [Regulation 94(1)] NOTICE OF PASSING OF ACCOUNTS OF FORMER TRUSTEE Take notice that the passing of accounts before the Court pursuant to section 220(1) of the Act in the bankrupt estate of _______________________________ (bankrupt), will be held before the ________________ Court at _____________________ on the _______ day of __________________ ______ at ___________o’clock.
Dated at ______________ on this ____ day of ___________ ____.
__________________________________ Former Trustee Bankruptcy and Insolvency Regulations, 2014 495 FORM 47 [Section 65(2) of the Act and Regulation 96] CLAIM BY SPOUSE OR COHABITANT I, _____________________________________ (full name) of ___________________________ (address), hereby confirm that I am the spouse (or cohabitant) of __________________________________, the debtor, and that I share the matrimonial home/dwelling house of which the debtor is the sole registered owner.
I hereby claim, pursuant to section 65(2) of the Bankruptcy and Insolvency Act, one half of the net proceeds of the sale of the matrimonial home/dwelling house after satisfaction of any valid and enforceable charges against the said property.

The matrimonial home/dwelling house can be described as: (include here a description of the property against which the claim pursuant to section 65(2) of the Act is being made.)
________________________________ Spouse/Cohabitant 496 Bankruptcy and Insolvency Regulations, 2014 FORM 48 [Section 72(1)(a) of the Act and Regulation 98] DEMAND FOR REPOSSESSION OF GOODS To: ________________________, purchaser (or trustee or receiver).
I, ______________________________, of ________________________ (address), (or as ____________ of____________________________,) supplier, hereby demand access to and repossession of the goods described below, which were sold and delivered to ______________________, the purchaser, on the dates and in accordance with the terms set out in the attached documents: [Attach copies of documents of sale (invoice, delivery slip, etc.)

and provide an appropriate description of the goods.]
Whereas the purchaser is bankrupt (or there is a receiver within the meaning of section 12 of the Act, appointed in respect of the purchaser’s property) the trustee (or receiver) is required to release the goods described above in accordance with section 72(1) of the Act.

Dated at __________________, this ______ day of __________ ______.
______________________________ Supplier Telephone Number : ___________________ Fax Number : _________________________ e-mail Address: _______________________ Bankruptcy and Insolvency Regulations, 2014 497 FORM 49 [Section 142(5)(c) of the Act and Regulation 101] NOTICE OF FINAL DIVIDEND AND APPLICATION FOR DISCHARGE OF TRUSTEE Take notice that: 1.

A final dividend sheet has been prepared.


There is enclosed with this form a copy of the dividend sheet and a copy of my final statement of receipts and disbursements as taxed.

2.

The final dividend will be paid after the expiration of fifteen days following the date of the mailing of this notice.

3.
3.

Notice of objection of the final statement and dividend sheet must be filed with the Registrar, at ____________, before the __________ day of __________ ____, and a copy of the notice served on the undersigned.

The notice must state the reasons for the objection.

4.
4.

I will apply to the court on the ________ day of ________ ____, at the hour of ______ o'clock, or so soon thereafter as the motion can be heard, for an order of discharge with respect to the above- mentioned estate and for a release of the security provided by me pursuant to section 200(1) of the Act.

5.
5.

Notice of objection to my discharge, setting out the reasons for opposition, must be filed with the Registrar, at ______________________, at least five days before the date of the hearing, and a copy of the notice must be served on me within those five days.

Dated at __________________, this ______ day of __________ ______.
_______________________________ Trustee 498 Bankruptcy and Insolvency Regulations, 2014 SCHEDULE 2 FFEEEESS PPAAYYAABBLLEE IINN TTEERRMMSS OOFF TTHHEE AACCTT PART I FFeeee PPaayyaabbllee bbyy RReecceeiivveerr 1.

For the purposes of section 14(c) of the Act and regulation 9(1), the fee payable by a receiver shall be $250.

PART II FFeeeess PPaayyaabbllee ttoo IInnssppeeccttoorrss 2.
For the purposes of section 111(5)(b) of the Act, the fees per meeting that may be paid to an inspector, to be determined on the net receipts as calculated by subtracting the payments to secured creditors from the amount of total receipts received by the trustee, are as follows: (a) if the estate has net receipts of less than $10,000 ... ... ... (b) if the estate has net receipts of $10,000 or more but less than $50,000 (c) if the estate has net receipts of $50,000 or more but less than $100,000 (d) if the estate has net receipts of $100,000 or more ... ... ... ... $10 ... $20 ... $30 ... $50 FFeeeess PPaayyaabbllee ttoo TTrruusstteeeess iinn SSuummmmaarryy AAddmmiinniissttrraattiioonn PART III 3.
For the purposes of section 146 of the Act, the fees of the trustee for services performed in a summary administration are calculated on the total receipts remaining after deducting necessary disbursements relating directly to the realization of the property of the bankrupt, and the payments to secured creditors, according to the following percentages: (a) on the first $1,000 of receipts ... ... ... ... ... (b) on the portion of receipts exceeding $1,000 but not exceeding $2,500 ... (c) on the portion of receipts exceeding $2,500 ... ... ... ... 100% ... 35% ... 50% PART IV FFeeeess ppaayyaabbllee ttoo tthhee OOffffiiccee ooff tthhee SSuuppeerrvviissoorr 4.
Pursuant to section 179(1) of the Act, the following fees are payable to the Office of the Supervisor: (a) Proposals $3.50 per page (b) Bankruptcies $3.50 per page (c) Licences $3.50 per page (d) Notices $3.50 per page FFeeeess ppaayyaabbllee bbyy TTrruusstteeeess ffoorr AApppplliiccaattiioonn ffoorr aa TTrruusstteeee LLiicceennccee PART V 5.
For the purposes of section 180 and 182 of the Act, the following fees are payable: (a) Trustee Licence (Individual)–application fee: $1000 per annum (b) Trustee Licence (Corporate)–application fee: $5000 per annum Bankruptcy and Insolvency Regulations, 2014 499 SCHEDULE 3 (Regulation 67 and 69) PPAARRTT 11––FFIITT AANNDD PPRROOPPEERR PPEERRSSOONN A person shall be considered fit and proper person if he– (a) has not been convicted of an offence involving fraud, insider trading, money laundering, terrorist financing or other forms of dishonesty or violence; (b) has not engaged in any business practices that are deceitful, oppressive, unsafe, unsound or otherwise improper, whether unlawful or not, or which otherwise discredit his method of conducting business; (c) does not have an employment record which leads the Supervisor to believe that he carried out an act of impropriety in the handling of his employer’s business; (d) has not engaged in or been associated with any other business practices or otherwise conducted himself in such a way as to cast doubt on his competence and soundness of judgment; and (e) has not contravened any provision of the Act, the Financial Institutions Act, the Securities Act, the Insurance Act or the Companies Act.
PPAARRTT 22––FFIITT AANNDD PPRROOPPEERR CCOORRPPOORRAATTIIOONN A corporation shall be considered fit and proper if it– (a) has not been found guilty of insider trading or fraud by local or foreign authorities; (b) has not been convicted of an offence; (c) has not contravened any provision of the Act, the Financial Institutions Act, the Securities Act, the Insurance Act or the Companies Act; and (d) in the opinion of the Supervisor, its affairs or the affairs of any related persons are conducted in a manner that is not prejudicial to its soundness or the insolvency system in Trinidad and Tobago.
Dated this 23rd day of May, 2014.

L. HOWAI Minister of Finance and the Economy PRINTED BY THE GOVERNMENT PRINTER, CARONI REPUBLIC OF TRINIDAD AND TOBAGO–2014