Licensed Insolvency Trustee (LIT) Licence Renewal

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Licensed Insolvency Trustees (LITs) are qualified and experienced professionals licensed by the Superintendent of Bankruptcy to manage the administration of insolvent estates and act as officers of the court pursuant to the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA). The annual renewal of a LIT's licence, which requires the Superintendent’s approval and the payment of prescribed fees, is facilitated by the OSB Licence Administration Application (OLAA), a web-based portal. (Insolvency, Innovation, Science and Economic Development Canada.)

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