The bankrupt, a 72-year-old self-employed businessman with significant tax debts, applied for a discharge from bankruptcy.
The discharge was opposed by the Canada Revenue Agency and the Trustee in Bankruptcy.
The court found that the bankrupt had engaged in unjustifiable extravagance and had structured his affairs through a family trust to artificially lower his income.
The court granted a conditional discharge, requiring the bankrupt to pay $100,000 to the Trustee for the benefit of his creditors.
