In a recent decision of the Supreme Court of Canada in Poonian v. British Columbia (Securities Commission), the Court determined that while disgorgement orders made by the British Columbia Securities Commission (the “Commission”) survive bankruptcy under the Bankruptcy and Insolvency Act (the “BIA”), administrative penalties may not.
Canada, British Columbia, Capital Markets, Insolvency & Restructuring, Litigation, McCarthy Tétrault LLP, British Columbia Securities Commission, Bankruptcy and Insolvency Act 1985 (Canada), Supreme Court of Canada, British Columbia Supreme Court