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The vision of the Office is to be the premier provider of insolvency administration services in Jamaica.
To provide a comprehensive and efficient insolvency administration service that adheres to international standards and best practices, aimed at assisting debtors to become financially stable through the proficient administration of their affairs, the satisfaction of their liabilities and the provision of financial counselling, thereby contributing to investors’ confidence and economic growth.
Mandate of the Office of the Government Trustee
The mandate of the Office of the Government Trustee (OGT) is to assist debtors, assess their financial position and prepare and file applications with the Supervisor of Insolvency for the implementation of proposals or the administration in bankruptcy on debtors’ behalf.
Once appointed to act with respect to their estates, the Trustee conducts further investigations into the debtors’ affairs; receives, verifies and admits claims by their creditors; identifies, recovers and manages or disposes of their assets; collects payments and invests estates funds; and, as soon as reasonably practicable, prepares and processes dividend payments to creditors in full or partial satisfaction of their debts.
In furtherance of that mandate, the OGT also seeks to educate the public on the legal mechanisms available under the Insolvency Act for dealing with financial difficulties, increase awareness of the office’s role in assisting debtors, and promote utilization of the office’s cost efficient service. It does this through its public education initiative in which information is disseminated by means of promotional material, presentations to interest groups, attendance at and involvement in various events and publication in the local media.
History of the Office of the Government Trustee (OGT)
The OGT was established in 2014, pursuant to section 227 of the Insolvency Act 2014. The establishment of the OGT replaced the Office of the Trustee in Bankruptcy (OTB) which was previously established in 1937 pursuant to the now repealed Bankruptcy Act1880 (last amended in 1995).
Under the Bankruptcy Act, the Trustee in Bankruptcy had sole jurisdiction in Jamaica over all matters of personal insolvencies. Additionally, the Trustee was empowered by the Companies Act of 1965 (and its amendments in 2004) and the 1949 UK Winding Up Rules of Court to exercise jurisdiction in cases of corporate insolvency. With respect to corporate insolvencies, the Trustee would only exercise jurisdiction, where specifically appointed as a liquidator or where no liquidator was named in a Winding Up Order or where the named Liquidator had ceased to act. Today, only matters that had commenced prior to the Act being repealed are administered under the old Act.
A new insolvency regime was created in 2014 by virtue of the Insolvency Act of 2014, which renamed the office from the Office of the Trustee in Bankruptcy to the Office of the Government Trustee, renamed the title of the Trustee from the Trustee in Bankruptcy to the Government Trustee and which invariably expanded the Trustee’s role to include not only matters of personal insolvencies and matters of corporate insolvencies which were commenced external to the OGT but also to include the initiation of matters of corporate insolvency. Additionally, the new regime provided for other Trustees who must be licenced.
The OGT under the new legislative framework, operates to assist debtors in the formulation and implementation of proposals for the satisfaction of their creditors, commence and follow to conclusion the necessary steps to administer the debtor’s affairs and satisfy their creditors and provide for the liquidation and winding up of companies or where possible relegate liquidation and winding up to a decision of choice or as a last resort. Further, the OGT seeks to reduce the stigma associated with insolvency, by increasing knowledge and awareness of the different approaches to insolvency administration as a mechanism for resolving financial difficulties and promoting greater economic stability by facilitating collaboration between debtors and creditors in times of hardship. The OGT has adopted a new approach to insolvency and strives to rehabilitate debtors and preserve viable companies whilst still ensuring that the rights of creditors and all other stakeholders are protected.
The OGT discharge its duties with a staff complement of thirteen Officers which includes the Government Trustee Nicola-Ann Brown Pinnock J.P. and the Deputy Government Trustee, Elece Campbell.
When does the Government Trustee Intervene
The Government Trustee will intervene where:
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Welcome to the official website of the Ministry of Industry, Investment and Commerce.
The Ministry of Industry, Investment and Commerce is described as Jamaica's "Business Ministry." It's mandate is to lead the development of policies that will create growth and jobs, while achieving social inclusion and consumer protection. The Ministry, working its stakeholders is primarily responsible for business policy development, monitoring and evaluation, while giving direction and oversight to a cluster of implementing departments and agencies.
We have, therefore, placed much energy and enthusiasm into the development of this website to provide timely information on the Ministry, our agencies and programmes.
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