The applicant, standing in the shoes of a bankrupt corporation, sought a declaration that four properties registered in the names of the respondents (former shareholders) were held on resulting trust for the corporation.
The respondents claimed they purchased the properties personally.
The court found the respondents' evidence regarding their intentions and the corporate accounting to be unreliable and self-serving.
The court held that the corporation paid for the properties, maintained them, and acted as the owner throughout, thereby establishing a resulting trust in favour of the applicant.
