Yes, Trustees are required to be impartial and maintain strict confidentiality as part of their role.

Trustees must be registered with the Superintendent of Bankruptcy. This could include a lawyer or accountant who meets certain requirements in terms of experience and qualifications. Trustees must be impartial and independent of all parties to the insolvency process and must adhere strictly to laws governing the administration of bankruptcy proceedings. Trustees are also responsible for ensuring that all information provided by debtors is accurate and complete. Trustees are generally obligated to report any suspicious activity or potential fraud to authorities. Trustees carry an enormous responsibility in administering the insolvency process, so it is important to choose a Trustee you can trust.

An Insolvency Trustee’s primary role is to oversee a debtor’s financial situation and administer their assets within the framework of applicable insolvency law. This includes helping debtors understand their options, developing repayment plans, and negotiating with creditors. Trustees also have a fiduciary responsibility to act in the best interests of all parties involved in insolvency proceedings. They must ensure that any assets are divided fairly and debts paid in accordance with applicable law. Trustees take an active role in monitoring the debtor’s financial situation and reporting back to relevant authorities.