It gives me great pleasure to announce that Scott Schaefer has received his bankruptcy trustee’s licence from the Office of the Superintendent of Bankruptcy (the “OSB”).
This is a great achievement, for a number of reasons.
First, according to the Office of the Superintendent of Bankruptcy’s web site, there are only 1,001 individuals in all of Canada that have a trustee’s licence.
Second, the process to become a bankruptcy trustee is long and grueling. Scott has a university degree, and he is a chartered accountant. But Scott didn’t stop with those two sets of initials after his name. He joined our firm in 2002, and immediately began his pursuit of his trustee’s licence. Five years later, he did it!
In addition to many years of professional experience, to become a trustee you must take five self study courses (each course takes approximately 200 hours to complete), and you must pass four written exams. You then attend a one-week instensive course, which is followed by the final written exam. If you pass that, you are eligible to “sit the oral boards”.
This is where it gets fun. The oral boards are an oral exam. You sit in a room with a national representative of the OSB (who sits on every oral board for every candidate across Canada), a local OSB representative, a trustee, and an insolvency lawyer. They then grill you for almost two hours on whatever subjects they choose. You must think on your feet, while conveying, in simple terms, some very difficult technical information.
Scott got through the process with flying colours.
At Hoyes Michalos & Associates we pride ourselves on having experts available to meet with you personally to help you solve your debt problems. People like Scott have excellent technical knowledge, years of experience, and the personal touch that allows all of our professionals to help you through a difficult time.