The applicant sought the return of deposit monies paid for a condominium purchase after she defaulted on the closing and subsequently declared bankruptcy.
The vendor had agreed to return the deposit less $30,000 upon resale, but the applicant refused to sign the release.
The applicant failed to disclose the deposit claim to her Trustee in Bankruptcy.
The court held that the deposit monies, which had been paid into court, must be paid to the Trustee in Bankruptcy to be administered pursuant to the Bankruptcy and Insolvency Act for the benefit of her creditors, with any surplus to be returned to the applicant.
