Proceedings of the Standing Senate Committee on
Banking, Trade and Commerce
Issue 7 - Minutes of Proceedings
OTTAWA, Wednesday, February 6, 2008
(11)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 4:15 p.m., this day, in room 9, Victoria Building, the chair, the Honourable W. David Angus, presiding.
Members of the committee present: The Honourable Senators Angus, Biron, Goldstein, Harb, Massicotte, Moore, Ringuette and Tkachuk (8).
In attendance: June Dewetering and Philippe Bergevin, Analysts, Parliamentary Information and Research Services, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the order of reference adopted by the Senate on Tuesday, November 20, 2007, the committee continued its study of the present state of the domestic and international financial system. (For complete text of the order of reference, see proceedings of the committee, Issue No. 3.)
WITNESSES:
Insolvency Institute of Canada:
Patrick McCarthy, President, IIC and Lawyer at Borden Ladner Gervais LLP;
Philippe Bélanger, Member, IIC and Lawyer at McCarthy Tétrault LLP;
Susan Grundy, Member, IIC and Lawyer at Blake, Cassels & Graydon LLP;
Andrew Kent, Member, IIC and Lawyer at McMillan Binch Mendelsohn LLP.
As an individual:
Mahesh Uttamchandani, Senior Counsel and Task Team Leader for World Bank Global Insolvency Initiative.
The Honourable Senator Goldstein noted for the record that though he is a founding director, member emeritus and fellow of the Insolvency Institute of Canada, this should not affect his judgement with respect to what he will hear and though Mr. Andrew Kent is managing partner of the firm with which he is associated, he does not think that this will affect his ability to be objective about what he will hear.
Mr. McCarthy and Mr. Bélanger each made a statement and, together with the other witnesses, answered questions.
At 5:24 p.m., the committee suspended.
At 5:28 p.m., the committee resumed.
The Honourable Senator Goldstein noted for the record that though, in the past, he has participated in various studies by the World Bank and has been published by the World Bank and that he is in the midst of being published again, he does not think that this would affect in any way his evaluation of the evidence he will hear.
Mr. Uttamchandani made a statement and answered questions.
At 6:06 p.m., the committee adjourned to the call of the chair.
ATTEST:
OTTAWA, Thursday, February 7, 2008
(12)
[English]
The Standing Senate Committee on Banking, Trade and Commerce met at 10:55 a.m., this day, in room 9, Victoria Building, the chair, the Honourable W. David Angus, presiding.
Members of the committee present: The Honourable Senators Angus, Biron, Goldstein, Harb, Jaffer, Massicotte, Moore, Ringuette and Tkachuk (9).
In attendance: June Dewetering and Philippe Bergevin, Analysts, Parliamentary Information and Research Services, Library of Parliament.
Also in attendance: The official reporters of the Senate.
Pursuant to the order of reference adopted by the Senate on Tuesday, November 20, 2007, the committee continued its study of the present state of the domestic and international financial system. (For complete text of the order of reference, see proceedings of the committee, Issue No. 3.)
WITNESSES:
Hoyes Michalos & Associates Inc.:
Doug Hoyes, Bankruptcy trustee;
Ted Michalos, Bankruptcy trustee.
Ontario Association of Credit Counselling Services:
Henrietta Ross, Executive Director.
Credit Canada:
Laurie Campbell, Executive Director.
Mr. Hoyes and Mr. Michalos each made a statement and answered questions.
At 12 noon, the committee suspended.
At 12:05 p.m., the committee resumed.
Ms. Ross and Ms. Campbell each made a statement and answered questions.
At 1 p.m., the committee adjourned to the call of the chair.
ATTEST:
Line Gravel
Clerk of the Committee