FAQ

Trustee fees

How much does the trustee get paid and what are the sources of the funds for the payment?

Trustees in Bankruptcy are governed by the Bankruptcy and Insolvency Act and there is a tariff of fees, set by the Federal Government, based on the total receipts in each estate. If your bankruptcy is not a summary estate, that is, there is more than $10,000 expected realizations, then the fee would be a set rate times the amount of time spent on the file, plus disbursements.

The cost of administrating a bankruptcy depends on a variety of factors, including the complexity of the bankrupt’s affairs.

The Trustee’s fees on summary estates are based on the Superintendent’s Tariff and are taken from payments made by the bankrupt and/or from the realization of assets. The fee covers all services provided by the Trustee.

There is usually a minimum fee that should be discussed with your Trustee prior to filing for bankruptcy. If there are not sufficient assets to cover the fee you may be required to make monthly payments.

Do I have to pay the fee up front?

No, there are a number of ways to pay the fee, such as monthly payments or by having a third party pay the fee for you.