Focus On Insolvency Law

Bankruptcy Of A Securities Firm Under Part VII Of The Bankruptcy And Insolvency Act (Canada). One Of The More Recent Cases To Consider These Provisions, Ashley V. Marlow Group Private Portfolio Management Inc., Reminds Us That Securities Not Registered In The Name Of The Customer Vest In The Bankrupt Estate.

In Ashley v. Marlow Group Private Portfolio Management Inc. (2006) CarswellOnt. 3449 (Ont. S.C.), the Bankruptcy Court considered the insolvency of a group of companies which provided a number of investor services to its clients. There was a significant deficiency between the actual cash that the group of companies had in its accounts, and the amount which it was supposed to be holding in trust for its clients.