On November 8, 2018, in a decision delivered unanimously from the bench, the Supreme Court of Canada confirmed that the Crown’s superpriority over unremitted Goods and Services Tax/Harmonized Sales Tax (GST/HST) is ineffective against a secured creditor who received, prior to a tax debtor’s bankruptcy, proceeds from that taxpayer’s assets.1
Canada, Insolvency & Restructuring, Litigation, Tax, Borden Ladner Gervais LLP, Bankruptcy, Debtor, Harmonised sales tax, Dissenting opinion, Secured creditor, Goods and services tax (Canada), Unsecured creditor, Supreme Court of Canada, Federal Court of Appeal (Canada)
Canada v Callidus Capital Corporation
Canada, Insolvency & Restructuring, Litigation, Tax, Borden Ladner Gervais LLP, Canada Revenue Agency, Supreme Court of Canada