Appointment of interim receiver

46. (1) The court may, if it is shown to be necessary for the protection of the estate of a debtor, at any time after the filing of an application for a bankruptcy order and before a bankruptcy order is made, appoint a licensed trustee as interim receiver of the property or any part of the property of the debtor and direct the interim receiver to take immediate possession of the property or any part of it on an undertaking being given by the applicant that the court may impose with respect to interference with the debtor’s legal rights and with respect to damages in the event of the application being dismissed.

Powers of interim receiver

(2) The interim receiver appointed under subsection (1) may, under the direction of the court, take conservatory measures and summarily dispose of property that is perishable or likely to depreciate rapidly in value and exercise such control over the business of the debtor as the court deems advisable, but the interim receiver shall not unduly interfere with the debtor in the carrying on of his business except as may be necessary for conservatory purposes or to comply with the order of the court.

R.S., 1985, c. B-3, s. 46; 1997, c. 12, s. 27(F); 2004, c. 25, s. 29.

Appointment of interim receiver

47. (1) Where the court is satisfied that a notice is about to be sent or has been sent under subsection 244(1), the court may, subject to subsection (3), appoint a trustee as interim receiver of all or any part of the debtor’s property that is subject to the security to which the notice relates, for such term as the court may determine.

Directions to interim receiver

(2) The court may direct an interim receiver appointed under subsection (1) to do any or all of the following:
(a) take possession of all or part of the debtor’s property mentioned in the appointment;
(b) exercise such control over that property, and over the debtor’s business, as the court considers advisable; and
(c) take such other action as the court considers advisable.

When appointment may be made

(3) An appointment of an interim receiver may be made under subsection (1) only if it is shown to the court to be necessary for the protection of
(a) the debtor’s estate; or
(b) the interests of the creditor who sent the notice under subsection 244(1).

R.S., 1985, c. B-3, s. 47; 1992, c. 27, s. 16.

Appointment of interim receiver

47.1 (1) Where a notice of intention has been filed under section 50.4 or a proposal has been filed under subsection 62(1), the court may at any time thereafter, subject to subsection (3), appoint as interim receiver of all or any part of the debtor’s property, for such term as the court may determine,

(a) the trustee under the notice of intention or proposal;
(b) another trustee; or
(c) the trustee under the notice of intention or proposal and another trustee jointly.

Directions to interim receiver

(2) The court may direct an interim receiver appointed under subsection (1) to do any or all of the following:

(a) carry out the duties set out in subsection 50(10) or 50.4(7), in substitution for the trustee referred to in that subsection or jointly with that trustee;
(b) take possession of all or part of the debtor’s property mentioned in the order of the court;
(c) exercise such control over that property, and over the debtor’s business, as the court considers advisable; and
(d) take such other action as the court considers advisable.

When appointment may be made

(3) An appointment of an interim receiver may be made under subsection (1) only if it is shown to the court to be necessary for the protection of
(a) the debtor’s estate; or
(b) the interests of one or more creditors, or of the creditors generally.

1992, c. 27, s. 16.

Orders respecting fees and expenses

47.2 (1) If an appointment of an interim receiver is made under section 47 or 47.1, the court may make any order respecting the payment of fees and disbursements of the interim receiver that it considers proper, including an order giving the interim receiver security, ranking ahead of any or all secured creditors, over any or all of the assets of the debtor in respect of the interim receiver’s claim for fees or disbursements, but the court shall not make such an order unless it is satisfied that all secured creditors who would be materially affected by the order were given reasonable advance notification and an opportunity to make representations to the court.

Meaning of disbursements

(2) In subsection (1), "disbursements" do not include payments made in operating a business of the debtor.Accounts, discharge of interim receivers
(3) With respect to interim receivers appointed under section 46, 47 or 47.1,
(a) the form and content of their accounts,
(b) the procedure for the preparation and taxation of those accounts, and
(c) the procedure for the discharge of the interim receivershall be as prescribed.
1992, c. 27, s. 16; 2004, c. 25, s. 30.

Application of sections 43 to 46

48. Sections 43 to 46 do not apply to individuals whose principal occupation and means of livelihood is fishing, farming or the tillage of the soil or to any individual who works for wages, salary, commission or hire at a rate of compensation not exceeding twenty-five hundred dollars per year and does not on their own account carry on business.

R.S., 1985, c. B-3, s. 48; 1997, c. 12, s. 28.