TERMIUM Plus®

The Government of Canada’s terminology and linguistic data bank.

LICENSED TRUSTEE [1 record]

Record 1 2018-06-05

English

Subject field(s)
  • Occupation Names (General)
  • Financial and Budgetary Management
  • Bankruptcy
  • Auditing (Accounting)
DEF

[A] federally regulated professional who provides advice and services to individuals and businesses with debt problems.

CONT

The Office of the Superintendent of Bankruptcy issued a directive in December 2015, which was aimed to help Canadians easily recognize professionals licensed to provide services under the Bankruptcy and Insolvency Act. That means anyone previously called bankruptcy trustees, or trustees in bankruptcy, are now referred to as a licensed insolvency trustee. It's important to note that the services provided by these professionals stay the same. By removing the word bankruptcy from the title, it is more transparent to the fact that LITs can do so much more than handle your bankruptcy case.

OBS

"Licensed insolvency trustee" (LIT) means a trustee or licensed trustee, as defined in section 2 of the BIA [Bankruptcy and Insolvency Act].

Key term(s)
  • licenced insolvency trustee
  • licenced trustee in insolvency
  • licenced trustee
  • licenced trustee in bankruptcy
  • licenced bankruptcy trustee

French

Domaine(s)
  • Désignations des emplois (Généralités)
  • Gestion budgétaire et financière
  • Faillites
  • Vérification (Comptabilité)
DEF

[...] professionnel dont les activités sont réglementées par le gouvernement fédéral [qui] offre des avis et des services aux personnes et aux entreprises ayant des problèmes d'endettement.

OBS

«syndic autorisé en insolvabilité» (SAI) désigne un syndic ou un syndic autorisé, au sens de l'article 2 de la LFI [Loi sur la faillite et l'insolvabilité].

OBS

Le terme «syndic de faillite» est dorénavant remplacé par «syndic autorisé en insolvabilité (SAI)».

Spanish

Campo(s) temático(s)
  • Nombramiento de cargos (Generalidades)
  • Gestión presupuestaria y financiera
  • Quiebras
  • Verificación (Contabilidad)
Save record 1

Copyright notice for the TERMIUM Plus® data bank

© Public Services and Procurement Canada, 2024
TERMIUM Plus®, the Government of Canada's terminology and linguistic data bank
A product of the Translation Bureau

Features

Language Portal of Canada

Access a collection of Canadian resources on all aspects of English and French, including quizzes.

Writing tools

The Language Portal’s writing tools have a new look! Easy to consult, they give you access to a wealth of information that will help you write better in English and French.

Glossaries and vocabularies

Access Translation Bureau glossaries and vocabularies.

Date Modified: