retaining and assigning bankrupt's contracts. The inspectors must give their approval to the final statement of receipts and disbursements and trustee's fees. Inspectors have a fiduciary duty to the creditors and should be impartial though acting in their interest. They should supervise the trustee's compliance with the Act and the Superintendent's directives, and may apply for the removal of the trustee. Receivers The receiver must do what "practicality demands" to preserve the assets and must not go beyond what is necessary in the circumstances. Interim receivers The court may appoint an interim receiver: at any time after the filing of an application for a bankruptcy order and before a bankruptcy order is made, after a secured creditor has filed an advance notice of intention to enforce his security on the debtor's property, or at any time after the filing of a notice of intention or of a Division I proposal In the first case, the applicant must give an undertaking with respect to the debtor's legal rights, and to damages in the event of the application being dismissed. The interim receiver can take conservatory measures and dispose of perishable property in order to comply with the order of the court, but the receiver cannot otherwise unduly interfere with the bankrupt in the carrying on of the debtor's business. In the latter two cases, the court can only make the appointment if it is shown that it is necessary for the protection of the debtor's estate, or in the interest of the creditor(s). The courts have set out the following factors to be considered in exercising discretion on whether to appoint an interim receiver: whether the person is in control of the property whether the debtor is acting in bad faith and giving preferences to other creditors whether the debtor is fraudulently disposing and concealing his assets allegations of criminal offenses have been made the debtor's property is in the possession of third parties See also Commercial insolvency in Canada Consumer bankruptcy in Canada Insolvency law of Canada Notes and references Notes References Further reading External links Bankruptcy and Insolvency Act Winding-Up and Restructuring Act Canada Transportation Act Farm Debt Mediation Act'' Canadian federal legislation Canadian insolvency legislation