Sabrina Saltmarsh presented as a Panelist at this year’s Unveiling Scary Issues, Frauds and Failures in Ontario Property Transactions, held by the Ontario Bar Association. The Panel discussion included: A cautionary tale for lawyers about potential signs of fraud in real estate transactions and insights and tips from Lawpro; the role of certificates of pending litigation in the preservation of rights and assets when dealing with fraud in real property transactions; and a discussion of the recent Court of Appeal ruling of Froom v. LaFontaine, 2023 ONSC 318, as it relates to the theory of deferred indefeasibility. Sabrina provided insights to the audience of real estate solicitors and litigators on challenging and unique issues related to fraud litigation and important principles and strategy considerations in obtaining or discharging a certificate of pending litigation related to real property. Lawyers at Gilbertson Davis LLP, have experience in representing parties in fraud litigation … Read More
Fraudulent Conveyance Act Protects Future Potential Creditors
In the recent Court of Appeal decision of Ontario Securities Commission v. Camerlengo Holdings Inc., 2023 ONCA 93, the Court of Appeal overturned a motion judges decision to strike the Ontario Securities Commission’s (“OSC”) claim made pursuant to s.2 of the Fraudulent Conveyance Act, R.S.O. 1990, c. F. 19 (“FCA”) due to lack of particularity. The Court of Appeal held that it is not necessary for a creditor to be known to the debtor at the time of a potentially fraudulent conveyance, it is enough that the debtor perceived a risk of claims from a general class of future creditors and conveyed the property with the intention to evade such creditors if they arose. The Facts Fred Camerlengo a retired electrician and the sole director of the Defendant corporation, Camerlengo Holdings Inc. (Holdco), conveyed his interest in the family home to his wife Mirella Camerlengo, a retired teacher, which was … Read More