4.7 Mandatory Reporting
Lawyers who are having financial difficulties are at greater risk of trust safety violations. As a result, the Rules of the Law Society of Alberta (Rule 119.34(1)).require lawyers and students-at-law to provide written notice to the Law Society if any of the following occur:
(a) Service on the lawyer or a member of the law firm of a petition under the Bankruptcy and Insolvency Act for a receiving order in respect of the property of the lawyer or law firm;
(b) The making by the lawyer or the law firm of an assignment pursuant to the Bankruptcy and Insolvency Act;
(c) The filing by a lawyer or the law firm under section 50.4 of the Bankruptcy and Insolvency Act of a notice of intention to make a proposal under that Act;
(d) The lodging of a proposal in respect of the lawyer or law firm pursuant to the Bankruptcy and Insolvency Act; or
(e) The issuance of a writ of enforcement against the lawyer or law firm.