David Grohmueller

The appellant acquired a distressed mortgage, promissory note, and debt from a bank at a discount.

The underlying property was subsequently sold at a judicial sale to the appellant.

The appellant claimed a non-capital loss on the transaction.

The Tax Court of Canada held that the transaction was an adventure in the nature of trade, as the appellant had a profit-making intention.

The Court found that the mortgage was disposed of upon its cancellation following the judicial sale, resulting in a realized non-capital loss of $826,426 in the 2011 taxation year.

The appeals were allowed and the reassessments referred back to the Minister.

The applicant, a citizen of Nigeria, sought judicial review of a decision by the Refugee Appeal Division confirming the Refugee Protection Division's finding that he is not a Convention refugee nor a person in need of protection.

The determinative issue was the existence of an Internal Flight Alternative in either Port Harcourt or Ibadan.

The applicant argued the decision was incoherent because the risk in his home area of Lagos was not first assessed.

The Federal Court held that a finding of an internal flight alternative can stand alone, and the tribunal is not required to first determine persecution in the home area.

Finding the RAD's IFA analysis reasonable, the application for judicial review was dismissed.