CMIC Mortgage Investment Corp v Rodriguez, 2010 BCSC 308; [2010] BCJ No 425

The bankrupt farmer ran an equestrian operation. She acquired two fabric covered barns, with one anchored by solid concrete blocks resting on the ground, and the second anchored into concrete foundations.

Fairbanx Corp v Royal Bank of Canada, 2010 ONCA 385 (Ont CA), on appeal from 2009 CanLII 55376 (Ont SC)

Fairbanx factored accounts for the debtor, Friction Tecnology Consultants Inc. Fairbanx made its Ontario PPSA registration misspelling the name as Technology, with an “H”. Two years later, the debtor obtained a line of credit from the Bank, which correctly named the debtor in its Ontario PPSA registration.

Caines, Re, 2010 NLTD 72

The bankrupt was the holder of a commercial fishing licence. He was discharged from his bankruptcy before the Supreme Court of Canada released its decision inRoyal Bank of Canada v. Saulnier (2008), 298 D.L.R. (4th) 193, in which that Court concluded that a fishing licence was “property” for purposes of the PPSA and BIA.

If you are interested in submitting a bid to buy assets from a Court appointed receiver in Ontario and there is a Court approved sales process, then it is important to submit your bid as part of that Court approved sales process. A bid tendered outside the sales process time line and procedure (even if it turns out to be the highest bid) will generally end up being a losing bid.

Radius Credit Union Limited v. Royal Bank of Canada [2009] S.J. No. 148, 2009 SKCA 36, on appeal from
2007 SKQB 472

1992: Farmer Wayne Hingtgen (“Debtor”) granted a general security agreement to Radius
Credit Union Limited (“CU”) granting a security interest on all his present and after
acquired assets.