2 total
Lease termination invalid where municipality failed to provide replacement facility as required by lease terms.
The respondent municipality gave notice of termination of a 1999 lease to the appellant soccer park corporation.
The respondent offered a new lease for the same property, but with a shorter term and a requirement that the appellant contribute to maintenance costs.
The 1999 lease required the respondent to provide another reasonably similar soccer facility at another location at its own expense upon termination.
The Court of Appeal held that the respondent failed to comply with these clear terms, rendering the termination invalid.
The appeal was allowed.
Appeal dismissed; taxpayer was wholly-owned at the time of tangible property transfer under Regulation 1013.
The Minister of Finance appealed a Superior Court decision regarding a tax assessment.
The Court of Appeal dismissed the appeal, finding no error in the appeal judge's conclusion that the taxpayer was wholly-owned at the time of the transfer of tangible property within the meaning of Regulation 1013.
Costs of $10,000 were awarded to the respondent.
