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Legal Blog:
Jan
01
2002
Garnishment
In many cases, obtaining a judgment against a debtor is the easy part; collecting on the judgment is the hard part. Even when the debtor has assets available to satisfy a debt, there may be insufficient assets to satisfy all of its debts and the creditors must then fight amongst each other to establish priority. This was the situation in Elmford Construction Company Limited v. South Winston Properties Inc., a 2001 decision of the Ontario Superior Court of Justice.
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01
2002
Dead
Corporations serve a wonderful function. They allow a number of people to engage in business under a defined set of rules and to obtain possible limited liability and tax benefits. However, many people with small privately owned corporations take their corporations for granted. This can create problems, one example of which was illustrated in Cornerstone Estates Ltd. v. Polaris Restorations Inc., a 2001 Ontario Superior Court of Justice decision.
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