The Royal Bank of Canada (RBC) brought an application seeking a declaration that a respondent, Carlo Casamirro Nonis, owned 50% of the matrimonial home and an order for its partition and sale.
The co-respondent, Adina Nonis, resisted, claiming Carlo held his interest in trust for her.
The court found that Carlo did not hold his interest in trust for Adina.
Consequently, the transfer of Carlo's share to Adina, which occurred shortly after RBC demanded payment on Carlo's guaranteed debts, was deemed a fraudulent conveyance under both the Bankruptcy and Insolvency Act and the Fraudulent Conveyances Act.
The application was granted, confirming Carlo's 50% ownership and ordering the partition and sale of the property.
