What is the OSB and what are their responsibilities?
The OSB stands for Office of the Superintendent of Bankruptcy. They are responsible for the administration of the Bankruptcy and Insolvency Act. They also manage certain duties under the Companies' Creditors Arrangement Act. The OSB licenses and regulates the insolvency profession to ensure an efficient and effective regulatory framework is in place. They supervise stakeholder compliance with the insolvency process and maintain public records and statistics. The OSB is also responsible for recording and investigating complaints against Licensed Insolvency Trustee, debtors and creditors.
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