DISCHARGE OF BANKRUPT - Absolute discharge - When granted - Upon total or partial repayment

Law360 Canada ( October 3, 2022, 9:12 AM EDT) -- Application by the Trustee for the annulment of the absolute discharge from bankruptcy. C.E. Craig & Associates Inc. (Trustee) applied for orders that the absolute discharges from bankruptcy of Alana Young and of Benson Young be annulled. The basis for the applications was an allegation that neither Alana Young nor Benson Young disclosed their interest in real property in Victoria that was registered in the name of Alana Young's mother (Victoria Property). The Trustee relied on the Bankruptcy and Insolvency Act. Benson and Alana were schoolteachers. They attended a series of investment courses that persuaded them to incorporate corporations to invest in real estate in British Columbia and Ontario. Whitney Canada made all the arrangements. After the real estate market dropped in 2008 and 2009, the corporations were assigned into bankruptcy. Benson and Alana both deposed that they were unaware that they had provided personal guarantees in respect of those investments....
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