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
Toronto Lawyers for Large Debt Collection and Enforcement of Foreign and Local Judgments and Awards
Domestic and, US and Other Foreign Debt, Judgments and Awards We are often consulted or retained in connection with recovery of large local debt or foreign debt, including casino debt, or to seek recognition and enforcement in Ontario, Canada, of judgments, orders, or arbitration awards obtained in Ontario, other provinces of Canada, US and other foreign jurisdictions. We are sometimes retained to work with the assistance of lawyers practicing debt recovery in other jurisdictions, including, those located offshore. Claims on Loan Guarantee We can advise and represent those claiming payment on a guarantee, and those named as guarantor of a loan. Loan or Gift? | Loan or Investment? Disputes sometimes arise when either a payment advanced or transfer is alleged to be a loan rather than a gift, or alleged to a loan rather than an investment, or vice-versa. We have relevant experience in both domestic and cross-border litigation. Injunctions and Other … Read More
Hurdles To Recognition and Enforcement Of Foreign Judgments
In the recent Ontario Court of Appeal decision of H.M.B. Holdings Limited v. Antigua and Barbuda, 2020 ONCA 12, the Court of Appeal rendered a split (2-1) decision regarding the recognition of a foreign judgment which muddies the waters on the analysis to be applied to s.3(b) of the Reciprocal Enforcement of Judgments Act, R.S.O. 1990, c. R.5 (REJA) Original Judgment: In this case H.M.B. Holdings Limited (HMB) was successful in obtaining judgment on February 26, 2014, against Antigua and Barbuda from the Judicial Committee of the Privy Council (the JCPC), which is the highest court of appeal for certain British territories and Commonwealth countries including Antigua and Barbuda. The case related to damages sought by HMB due to the expropriation of resort lands by the Antiguan government. The case has garnered some media attention because of the manner in which the lands were expropriated. HMB then brought a common law … Read More