Bankruptcy Regulations 2021

A notice of disclaimer under subsection 133(1) or (1A) of the Act must:

adequately identify both of the following:

the bankrupt to whom the notice relates;

the property or contract being disclaimed; and

in the case of disclaimer, without the leave of the Court, of a lease—set out facts showing that subsection 133(4) of the Act has been complied with; and

in the case of disclaimer, without the leave of the Court, of a contract—set out facts showing that the contract is, for the purposes of subsection 133(5A) of the Act, an unprofitable contract.

A trustee who gives a notice of disclaimer under subsection 133(1) or (1A) of the Act must give the notice to each person who, to the trustee’s knowledge:

in the case of disclaimer of property—has an interest in the property; or

in the case of disclaimer of a contract—is:

entitled to a benefit of, or right under, the contract; or

subject to a burden or liability under the contract.

A failure to comply with subsection (1) or (2) does not affect the validity of a notice of disclaimer under subsection 133(1) or (1A) of the Act.