McInnes Cooper's Romain Viel in Taxnet Pro™ | CRA’s Super Priority Gains Strength: Federal Crown’s deemed trust priority for unremitted GST/HST survives bankruptcy in Canada v. Callidus Capital Corporation
August 28, 2017
By Romain Viel, at McInnes Cooper
Recently, the Federal Court of Appeal confirmed that a tax debtor’s bankruptcy does not extinguish the federal Crown’s priority to proceeds a secured creditor obtains from that tax debtor’s assets before its bankruptcy. In his article, Romain Viel suggests that creditors are well-advised to consider – carefully – a debtor’s tax situation when assessing whether to enforce security in light of the Appeal Court’s decision in Canada v. Callidus Capital Corporation.
Read his article, CRA’s Super Priority Gains Strength: Federal Crown’s deemed trust priority for unremitted GST/HST survives bankruptcy in Canada v. Callidus Capital Corporation, as published by Thomson Reuters’ Corporate Tax Centre on Taxnet Pro™ on August 28, 2017 (PDF)
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