CITATION: Katz (Re) , 2009 ONCA 869
DATE: 20091208
DOCKET: C50738
COURT OF APPEAL FOR ONTARIO
MacPherson, Lang and Juriansz JJ.A.
In the Matter of the Bankruptcy of Michael Katz, of the City of Toronto, in the Province of Ontario
BETWEEN
Mimarco Investments Ltd., Roslyn Fingold and Brian Rowley
Applicants (Appellants)
and
Joseph Morra and Segal & Partners Inc., in its Capacity as Trustee in Bankruptcy of the Estate of Michael Katz
Respondents (Respondents)
Sean Cummings, for the appellants
Bruce R. Jaeger, for the respondent, Segal & Partners Inc.
Brian Morris, for the respondent, Joseph Morra
Heard: December 4, 2009
On appeal from the order of Justice Frank N. Marrocco of the Superior Court of Justice dated June 22, 2009.
APPEAL BOOK ENDORSEMENT
[1] In our view, in the circumstances of this case, it is unnecessary to determine whether a meeting of the inspectors was a prerequisite. Irrespective of whether a meeting was a prerequisite, in our view, the motion judge had a discretion under s. 37 of the Bankruptcy and Insolvency Act to approve the sale of the shares.
[2] We see no reason to interfere with the disposition of the motion judge, who identified the relevant factors and attributed appropriate weight to those factors.
[3] Accordingly, the appeal is dismissed.
[4] Costs payable by the appellants to the respondents, fixed in the amounts of $8,000 to Joseph Morra and $4,300 to the Trustee, both inclusive of disbursements and G.S.T.