Supreme Court of Canada
Canada Trust Co. et al. v. Aetna Casualty and Surety Co. Ltd. et al., [1978] 2 S.C.R. 133
Date: 1977-11-01
The Canada Trust Company, ès qualités and Canada Permanent Trust Company, ès qualités Appellants;
and
Aetna Casualty and Surety Company Ltd. and R. Victor Barnett and Inspiration Ltd. Respondents.
1977: November 1.
Present: Laskin C.J. and Martland, Ritchie, Spence, Pigeon, Dickson and Beetz JJ.
ON APPEAL FROM THE COURT OF APPEAL FOR QUEBEC
Bankruptcy—Proposal—Bulk sale—Escrow agreement—Right of the creditors at the time of the sale—Right of the subsequent creditors—Civil Code, arts 1029, 1569a, 1569b, 1569c, 1569d—Bankruptcy Act, R.S.C. 1970, c. B-3, ss. 16(1), 18(2), 24(2), 157(9).
APPEAL against a judgment of the Court of Appeal for Quebec[1] reversing a judgment of the Superior Court, in bankruptcy. Appeal allowed.
Pierre Bourque, Q.C., for the appellants.
Jean Guibault, for the respondent, Aetna Casualty.
James Kennedy, Q.C., for the respondents Barnett and Inspiration Ltd.
The judgment was delivered orally by
THE CHIEF JUSTICE—We all concur with the reasons given by Casey J.A. in the Court of Appeal and the appeal is accordingly allowed, the judgment of the Court of Appeal is set aside and the trial judgment is restored. All parties in the Court of Appeal and in this Court are entitled to their costs against the estate.
Appeal allowed with costs.
Solicitors for the appellants: Desjardins, Ducharme, Desjardins and Bourque, Montreal.
[Page 134]
Solicitors for the respondent, Aetna Casualty: O’Brien, Hall and Saunders, Montreal.
Solicitors for the respondents, Barnett and Inspiration Ltd.: Slattery, McQuillan, Kennedy and Lafleur, Montreal.