CITATION: Kazarian v. Fraser, 2010 ONCA 747

DATE: 20101108

DOCKET: C50957

COURT OF APPEAL FOR ONTARIO

Rosenberg, MacPherson and LaForme JJ.A.

BETWEEN:

Karen Ellen Kazarian in her personal capacity and in her capacity as Estate Trustee of the Estate of Gerard Ernest Hird, Julie-Anne Louise Cook and Jocelyn Reid Ferguson Murray Murdoch

Plaintiffs (Respondents)

And

Claire Anita Fraser also known as Clare Anita Fraser, Cayman National Bank Ltd. and Cayman National Securities Ltd.

Defendants (Appellants)

Counsel: Robert P. Budgell, for the appellant, Claire Anita Fraser David J. H. Jackson, for the respondents

Heard and endorsed: November 3, 2010 On appeal from the judgment of Justice David S. Crane of the Superior Court of Justice dated July 29, 2009.

APPEAL BOOK ENDORSEMENT

[1] The trial judge applied the correct test for piercing the corporate veil in the context of a family law case: see Wildman v. Wildman. Given the findings of fact, the trial judge was right to set aside the transaction under s. 2 of the Fraudulent Conveyance Act.

[2] Accordingly, the appeal is dismissed.

[3] As to the cross-appeal, Ms. Fraser admitted in cross-examination that she took the $8,000 following the death of Mr. Hird. That money was an asset of the estate.

[4] Accordingly, the cross-appeal is allowed.

[5] The respondents are entitled to their costs which are fixed at $15,000 inclusive of disbursements and applicable taxes.