The bankrupt applied for an absolute discharge from bankruptcy.
The trustee opposed the discharge under s. 173(1)(o) of the Bankruptcy and Insolvency Act, arguing the bankrupt failed to perform his duties by not disclosing and assisting in the realization of a 47-foot yacht.
The court found the bankrupt was evasive, uncooperative, and failed to fulfill his duties to disclose and deliver the yacht to the trustee.
Given the bankrupt's conduct and the need to maintain the integrity of the bankruptcy system, the court refused an absolute discharge and instead granted a conditional discharge requiring the bankrupt to pay $40,000 to the estate over 60 months.
