Ontario Civil

Bankruptcy and Insolvency

Bankrupt did not make complete disclosure to former trustee and trustee


Bankruptcy was principally result of failure of bankrupt’s corporation. Bankrupt did not show size of assets relative to liabilities arose from circumstances for which bankrupt could not justly be held responsible. Bankrupt transferred home to wife several months prior to bankruptcy for no consideration. Bankrupt withdrew $125,000 from R.R.S.P.s without advising former trustee of action. Bankrupt received loan from father which was placed in account of numbered company of which daughter was stated to be sole shareholder. Bankrupt had complete control over money loaned by father. Bankrupt had substantial unpaid taxes owing to CRA and incurred post-bankruptcy liability to CRA. Bankrupt twice changed residence without informing trustee. There was no evidence bankrupt sought employment since date of bankruptcy. Bankrupt sought absolute discharge from bankruptcy. Circumstance contemplated by s. 173(1)(a) and (j) of Bankruptcy and Insolvency Act (Can.), were established and possibility of absolute discharge was excluded. Bankrupt did not make complete disclosure to former trustee and trustee. Bankrupt was entitled to conditional discharge on terms set out.

Wagner, Re

(Aug. 30, 2013, Ont. S.C.J., Wilton-Siegel J., File No. Estate No. 31-1440148) 232 A.C.W.S. (3d) 35.

cover image


Subscribers get early and easy access to Law Times.

Law Times Poll

Lawyers have expressed concerns that of 38 justices of the peace the province appointed this summer, only 12 have law degrees. Do you think this is an issue?