Disposing assets on the eve of insolvency - Court revisits the test for fraudulent conveyance

When a debtor is facing insolvency, it is typically not permitted to liquidate or transfer assets.

Filed under:
Canada, Insolvency & Restructuring, Litigation, Pallett Valo LLP, Ontario Superior Court of Justice
Location:
Canada
Firm:
Pallett Valo LLP
The interplay between benefits under a trust and bankruptcy: A beneficiary cannot shield its obligations to creditors by hiding behind the terms of a trust

In a recent decision, the Ontario Court of Appeal held that the sale proceeds of a property held in trust can be applied to a beneficiary’s bankruptcy obligations.

Filed under:
Canada, Ontario, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Pallett Valo LLP
Location:
Canada
Firm:
Pallett Valo LLP