In what circumstances will a bank be able to bring an action to obtain leave under section 38 of the Bankruptcy and Insolvency Act?
British Columbia, Canada
The following excerpt is from Jaston & Co. Ltd. v. McCarthy, 1998 CanLII 6455 (BC CA):
In Banque Royale du Canada v. Dupont (syndic), [1993] A.Q. No. 3 (Q.C.A.), the bank commenced an action to have a transfer of property by a husband to his wife shortly before the husband went into bankruptcy declared invalid. The bank failed to obtain leave under s. 38 prior to commencing its action. The bankrupt applied to dismiss the action on the basis that the failure to obtain leave under s. 38 of the BIA precluded the bank from pursuing its claim. The trial judge stayed the application for dismissal so that it could be tried at the same time as the bank's application for leave under s. 38.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
In what circumstances will a plaintiff be able to bring an action against his executors for failing to obtain a grant of letters probate? (British Columbia, Canada)
In what circumstances will a company be able to bring a Derivative Action? (British Columbia, Canada)
What interests and circumstances should a plaintiff consider when deciding whether to bring a class action? (British Columbia, Canada)
In what circumstances will the Children be able to bring an action to vary the will of a deceased's estate? (British Columbia, Canada)
In what circumstances will a plaintiff bring a class action? (British Columbia, Canada)
Can a plaintiff in a personal injury action commence an action against a defendant in the same action against the same defendant? (British Columbia, Canada)
In what circumstances will a surety be able to bring an action against the authorities for failing to pay legacy duty? (British Columbia, Canada)
Is a search warrant obtained by the Justice in the Information to Obtain pursuant to Section 8 of the Charter valid? (British Columbia, Canada)
What causes of action have been struck out of a class action for breach of section 61 of the Competition Act? (British Columbia, Canada)
Can a defendant in a personal injury action make use of a medical report and clinical report obtained from an earlier and by then settled wrongful dismissal action? (British Columbia, Canada)
