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CRA Must Seek Leave to Issue a Notice of Assessment Post Bankruptcy
Last year the writer wrote a blog regarding tax debtors who file an assignment in bankruptcy rather than appealing a large assessment that the tax debtor received from the Canada Revenue Agency (the "CRA"). As a corollary to that blog,...
Guarantors must exercise care when paying out a guaranteed debt where there is a co-guarantor
The Ontario Court of Appeal recently considered the situation of a guarantor (otherwise known as a surety) paying out a guaranteed debt where there were a co-guarantor and the right of the guarantor to then claim contribution from the co-guarantor. ...
Banks do not owe a duty of care to their customers
A recent Ontario case confirms that, absent special circumstances, banks do not owe a duty of care to their customers. In Royal Bank of Canada v. Dhupar, 2014 CarswellOnt 7281 (S.C.J.), the corporate defendants purchased franchises which were financed by...
Assignment in bankruptcy instead of appealing a CRA assessment
Are you considering filing an assignment in bankruptcy rather than appealing a large assessment that you received from the Canada Revenue Agency? If so, you better think twice since it could have a large impact on what kind of order...
Can a Secured Debtor Retain A Business’ Goodwill?
I was recently involved in an interesting case in which I obtained a receivership order for a secured creditor of an insolvent dentist. This case involved two interesting issues. The first was the need to have the Royal College of Dental...
