Bankruptcy and Insolvency Act

Marginal note: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.

• Marginal note: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.

• Marginal note: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.