The appellant appealed a decision finding that funds held in a self-directed registered retirement savings plan were not exempt from seizure.
The appellant argued the plan constituted an annuity or a trust under the Civil Code of Québec.
The Supreme Court of Canada dismissed the appeal, holding that the plan did not qualify as an annuity because there was no alienation of capital, nor did it qualify as a trust because the owner-annuitant retained control over the assets and the trustee did not have exclusive administration.
Consequently, the funds were not exempt from seizure.
