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Trust Fund

Sirro Brothers Cement Finishing & Spray Ltd. v. Somerset Wallace Developments Limited 2017 Ont SCJ

Contractor brought an action for payment of monies due on contract and breach of trust. The parties disagreed as to what the defendants had to produce by way of documentation. The court held that it was reasonable for the developer to provide proof of deposits used by the developer to fund the project and a copy of the developer’s unredacted general ledger indicating what monies were paid out and to whom. All this would be relevant to the issue as to whether the developer paid all funds it received in accordance with its trust obligations.

Written by Jonathan Speigel Jonathan Speigel, the founding partner of Speigel Nichols Fox LLP, leads the litigation and construction practices.