Course Content
Lesson 1.1 – Purpose of the Bankruptcy and Insolvency Act (BIA)
Estimated Time: 45–60 minutes Learning Objectives Understand why the BIA exists Understand the balance between debtor relief and creditor protection Recognize insolvency as a legal remedy, not a moral failure Key Concepts The BIA is federal legislation designed to: Provide honest but unfortunate debtors a path to relief Ensure fair and orderly treatment of creditors Preserve confidence in the credit system Insolvency law is designed to create structure during financial distress Outcomes are governed by statute, not discretion
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Course
How to Use This Course
Time Expectations and Learning Discipline
Why This Training Exists
Self-Check Your Starting Point
00:05:00
Why the BIA Exists
Insolvency Is a Legal Remedy, Not a Moral Judgment
Balancing Debtor Relief and Creditor Protection
Why Structure Matters During Financial Distress
Outcomes Are Governed by Statute, Not Discretion
Why the BIA Matters to Staff Behaviour
Lesson 1.1 Reflection and Knowledge Check
00:02:00
Lesson 1.2 – THE CANADIAN INSOLVENCY FRAMEWORK
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Insolvency in Canada: Who Sets the Rules
Federal Legislation Explained
Office of the Superintendent of Bankruptcy (OSB)
Court Involvement
Trustee Administration
Lesson 1.2 Knowledge Check
00:05:00
Lesson 1.3 – ROLE AND AUTHORITY OF A LICENSED INSOLVENCY TRUSTEE
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Who the Trustee Is
Trustee Authority
Staff Operating Under the Licence
Escalation as Protection
Lesson 1.3 Scenario
00:10:00
Lesson 1.4 – OSB OVERSIGHT AND REGULATORY ENFORCEMENT
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What OSB Oversight Looks Like
Audits and Investigations
What OSB Reviews
Enforcement Actions
Lesson 1.4 Exercise
Lesson 1.5 – PROFESSIONAL ETHICS AND NEUTRALITY
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Ethical Expectations in Insolvency
Prohibited Conduct
Confidentiality Obligations
Lesson 1.5 Discussion
00:10:00
Lesson 1.6 – COMPLIANCE LANGUAGE
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Why Language Matters
Compliant vs Non-Compliant Language
Lesson 1.6 Exercise
00:15:00
Lesson 1.7 – CONSEQUENCES OF NON-COMPLIANCE
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Client Consequences
Firm and Staff Consequences
Key Takeaway
Lesson 1.8 CONSOLIDATION AND KNOWLEDGE CHECK
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Day 1 Review
Knowledge Check
00:30:00
End of Day 1 Outcome
Day 2 – Consumer Proposals & Bankruptcy (Deep Dive)
Reframing Urgency
Documentation in Real Files
The Cost of Incomplete Information
Staff Judgment in Practice
Repetition as Risk Control
Self-Audit Question
The Role of Patience
Escalation Scenarios
Why Training Is Repetitive
Personal Accountability
Final Consolidation
Final Lesson 1 Summary
Lesson 1.9 – Consolidation and Knowledge Check
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Lesson 1 Summary
Knowledge Check Instructions
Knowledge Check - Lesson 1
00:30:00
Lesson 1 Quiz Completion
Transition to Lesson 2
Litvack Group Sales Training – Lesson 1 – Insolvency System and Trustee Authority

What OSB Reviews

 

 

OSB oversight may examine:

 

 

  • File completeness and accuracy

 

  • Documentation standards

 

  • Timing and procedural compliance

 

  • Communication practices

 

  • Complaint handling

 

  • Internal controls

 

 

A strong office is prepared as if every file could be reviewed.

 

 

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