The appellants appealed a summary judgment dismissing their claim to an interest in a company.
The appellant, an undischarged bankrupt, argued that his interest should be returned to him under s. 40(1) of the Bankruptcy and Insolvency Act as property incapable of realization, and that the trustee had told him not to disclose the interest.
The Court of Appeal dismissed the appeal, finding that the trustee had not determined the property was incapable of realization, and the appellant's bare assertions about the trustee's advice lacked sufficient detail to raise a genuine issue for trial.
The appeal was dismissed with costs fixed at $9,000.
