OAIRP Newsletter

September 15, 2008   

In this Issue:

• Introducing the 2008/9 Board
• Board Priorities
• Commercial List Users Committee
• Wage Earner Protection Program Act
• Canada Revenue Agency/Ministry of Finance Consultative Committee 
• Ontario Bar Association – Insolvency Law Section Liaison
• Toronto Court Registrar Matters
• Upcoming Events

The purpose of this communication is to introduce you to your Board, set out our priorities for the year, and report on some of the activities that your Board is involved in on your behalf and other relevant news.

I.         Introducing our 2008/2009 Board of Directors

We are delighted to introduce your new and returning Board members for the year as follows:

We also acknowledge with thanks the participation of Norm Kondo as CAIRP Liaison and Neil Saxe of Heenan Blaikie, as Ontario Bar Association Liaison.

II.                   Board Priorities for 2008/2009

Our priorities this year will be dominated by the implementation of the anticipated changes to the BIA and CCAA and the impact of the economic slowdown on the Ontario economy and our work as insolvency practitioners.

Our four key goals are:

a.        Advocacy – To maintain the profile of OAIRP as the leading representative of insolvency professionals on Ontario and local issues and to advance the public interest and that of our members on Ontario and local issues.

b.        Communications – To ensure that our members know what OAIRP does for them and to ensure our members have easy access to useful reference material on OAIRP activities, professional issues and related matters.

c.        Education and Networking – To continue to provide value to members through education and networking opportunities.

d.        Board Effectiveness – To enhance the ability of the Board to carry out our other goals and to recruit senior members of the Ontario insolvency practitioner community who will play an active role on the Board.

III.                 Commercial List Users’ Committee

The Commercial List Users’ Committee (CLUC) of the Ontario Superior Court of Justice is a Committee comprised of legal practitioners and judges who practice in and sit on the Commercial List.  The CLUC has appointed a subcommittee, known as the Model Order Subcommittee, to assist the CLUC in developing model insolvency orders.  Since the inception of the Model Order Subcommittee, OAIRP practitioners have been invited to attend and participate in the development of model insolvency orders.

OAIRP Board members John Page, Allan Nackan, Paul Casey and Sharon Hamilton are currently working with the Model Order Subcommittee on updating the existing CCAA, Receiver’s Discharge, and Approval and Vesting Model Orders to reflect recent jurisprudence and judicial improvements.  The Subcommittee is also working on the first draft of a Claims Procedure Model Order for presentation to the CLUC.  Finally, the Subcommittee is also drafting amendments to the model Receivership Order to give effect to the proposed amendments to the BIA.  Links to the current versions of the Model Orders can be found on the OAIRP website at http://www.oairp.com/precedents.html. Updated model orders will be posted on our website as soon they are approved by the CLUC.

The Board also wishes to acknowledge and congratulate OAIRP President John Page who has been asked to join the CLUC as its first non-lawyer member.  This nomination reflects John’s many years of valuable contribution to the CLUC Model Order Subcommittee and will give the OAIRP a critical and practical voice in discussions regarding the efficient administration of the Commercial List.  Congratulations John!

IV.                 Wage Earner Protection Program Act

As you are undoubtedly aware, the Wage Earner Protection Act and Regulations came into force on July 7, 2008.  Draft regulations were rushed out in June 2008 and OAIRP and CAIRP were the only two organizations that submitted comments. A copy of OAIRP’s comments may be found on our website at http://www.oairp.com/bulletins.html. Changes were made to the regulations based on our comments. Following comment from OAIRP and CAIRP members, Service Canada has also satisfactorily amended the certification that accompanies the electronic filing of wage data.  Members are strongly encouraged to familiarize themselves with WEPPA requirements.  Inquiries can be directed to Service Canada’s WEPPA dedicated line at 1-866-683-6516.  Members can get more insight into the WEPPA through the CAIRP Web Forum.

V.                   Canada Revenue Agency/Ministry of Finance Matters

Board member Sheldon Title recently attended a meeting with a Consultative Committee comprising of Ontario insolvency practitioners, Ministry of Finance representatives and CRA representatives.  The mandate of this committee is to identify issues between the administration of insolvency estates and taxing authorities.

Specific issues discussed include the recent reorganization of CRA’s regional offices, the release of GST refunds where there are outstanding returns beyond the statutory filing requirements, the ability of RRSP being pledged as security to the Crown, and administrative issues relating to Agency Agreements under Directive 12R.

The next meeting of this group is scheduled for October 29, 2008

VI.                 Ontario Bar Association – Insolvency Law Section Liaison

                Board members Paul Casey and John Page will act as OAIRP’s liaison to this Section and attend monthly meetings.  As in prior years, the OAIRP plans to co-host joint educational programming with the Section, and facilitate the distribution of their Section publication, “Insolvency News”, to OAIRP members.

On a related note, the next OBA Insolvency Section program will be held on September 17, 2008 at the Marriott Hotel in Toronto and will feature a panel presentation on automotive sector insolvencies.

VII.               Toronto Court Registrar Matters

Board member Angela Pollard regularly attends meetings of the Toronto Registrar’s Court Committee to discuss administrative issues with a view to streamlining processes.  The OAIRP Board is delighted to report that a new, second, Deputy Registrar, Janet Mills, has been appointed.

VIII.             Upcoming Events

September 17, 2008      -      OBA Insolvency Law Section Seminar on Automotive Sector Insolvencies at the Marriott Toronto

October 23, 2008          -      Canadian Insolvency Foundation Luncheon – Location TBA

August 19 – 22, 2009      -      CAIRP Annual Seminar, Huntsville

We trust you have found this Newsletter informative and welcome all feedback to:

Paul Casey – Newsletter Editor at paucasey@deloitte.ca or John Page – President at ajpage@ajohnpage.com