In a receivership application, is the receiver required to make a full and complete disclosure of the receivership's assets?
British Columbia, Canada
The following excerpt is from Canadian Imperial Bank of Commerce v. Rempel Copper Sky Development Ltd., 2015 BCSC 2183 (CanLII):
In Toronto Dominion Bank v. Park Foods Ltd. (1986), 77 N.S.R. (2d) 202, 191 A.P.R. 202 (S.C., T.D.), the court stated, at para. 6, that this disclosure “will help anyone who might be inclined to contest the application or claim against the receiver to assess the factual situation”.
"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
Is a developer exempt from strict disclosure requirements under the Financial Information Complaints Commission (FICOM) even if the developer has made significant changes to the disclosure rules? (British Columbia, Canada)
When bringing an ex parte application, can the applicant make full and frank disclosure of all material facts? (British Columbia, Canada)
When a spouse's assets are not family assets, is one of the spouses entitled to an equal division of assets? (British Columbia, Canada)
What is the standard of disclosure required on an application to vary? (British Columbia, Canada)
What is the standard of explanation required for a solicitor to explain the delay in completing an application? (British Columbia, Canada)
What is the financial disclosure required for an interim application for support? (British Columbia, Canada)
Is a husband's contribution to a business considered a family asset in determining if the business asset is a business asset? (British Columbia, Canada)
What is the disclosure required on an ex parte application? (British Columbia, Canada)
If a husband and wife have equalized their assets, is it necessary to divide the assets equalized so that the husband can continue to receive child and spousal support? (British Columbia, Canada)
Is a failure to meet the disclosure obligation on an ex parte application sufficient to bar the applicant from seeking the same injunctive relief? (British Columbia, Canada)
