Close X
Monday, November 25, 2024
ADVT 
National

Canada's high court to rule if bankruptcy wipes out court-ordered fines in B.C. case

Darpan News Desk The Canadian Press, 24 Nov, 2023 02:40 PM
  • Canada's high court to rule if bankruptcy wipes out court-ordered fines in B.C. case

The Supreme Court of Canada has set a December date to hear an appeal from a British Columbia couple who argue their declaration of bankruptcy should wipe out millions of dollars in court-ordered fines owed to provincial securities authorities.

The case of Thalbinder Singh Poonian and Shailu Poonian has been scheduled for Dec. 6 after Canada's highest court granted leave to appeal earlier this year.

Court documents show the Poonians were ordered by the B.C. Securities Commission to pay back several million in profits they made and collective administrative penalties of $13.5 million for committing market manipulation.

The Poonians appealed the fine in court, arguing that the debt should be erased when they are discharged from bankruptcy.

Last year, the B.C. Court of Appeal dismissed the appeal and agreed with the securities commission that the penalty was a sanction for the couple's fraudulent activity and won't disappear when bankruptcy ends.

The securities commission had found share prices of a stock traded on the TSX Venture Exchange had been manipulated, and the Poonians were assessed administrative penalties and ordered to repay the amount earned from the scheme. 

 

MORE National ARTICLES

Delta landfill in British Columbia would turn into a spot for eagle watching in fall

Delta landfill in British Columbia would turn into a spot for eagle watching in fall
Fall and winter are some of the busiest months for a raptor rescue operation in Delta, B.C., as it prepares for the annual migration of eagles scavenging at the Metro Vancouver landfill.  Martina Versteeg, the raptor care supervisor with Orphaned Wildlife Rehabilitation Centre, also known as OWL, said it's a great spot for bird watching as hundreds of eagles converge to gorge at the dump. 

Delta landfill in British Columbia would turn into a spot for eagle watching in fall

Nijjar fallout: India reportedly tells Canada to bring home 'dozens' of its diplomats

Nijjar fallout: India reportedly tells Canada to bring home 'dozens' of its diplomats
India reportedly wants 41 of 62 Canadian diplomats out of the country by early next week- a striking, if largely anticipated, deepening of the rift that erupted last month following Trudeau's explosive allegations in the House of Commons. 

Nijjar fallout: India reportedly tells Canada to bring home 'dozens' of its diplomats

House of Commons elects Liberal MP Greg Fergus as first Black Canadian Speaker

House of Commons elects Liberal MP Greg Fergus as first Black Canadian Speaker
Liberal member of Parliament Greg Fergus has been elected the House of Commons Speaker in a historic mid-session vote, becoming the first Black person to hold the position in Canada's Parliament.  Fergus, 54, was first elected to represent the Quebec riding of Hull-Aylmer in 2015.   

House of Commons elects Liberal MP Greg Fergus as first Black Canadian Speaker

Fall sitting starts for B.C. legislature with four official parties

Fall sitting starts for B.C. legislature with four official parties
British Columbia politicians are back in the legislature for the fall session, and the seating arrangement looks a little different. The Conservative Party of B.C. now has official party status, complete with a nearly $400,000 annual budget, after former BC United MLA Bruce Banman crossed the floor last month to join John Rustad.

Fall sitting starts for B.C. legislature with four official parties

Federal ministers still lack mandate letters, two months after majority shuffled

Federal ministers still lack mandate letters, two months after majority shuffled
Shortly after taking office in 2015, Trudeau's government announced it would publish the lists of tasks given to each minister, known as mandate letters. The documents lay out the priorities for each federal minister, and signal to public servants the timeline or scope of policies the government wants to advance.

Federal ministers still lack mandate letters, two months after majority shuffled

19-year-old clocked going 199 km on North Van highway

19-year-old clocked going 199 km on North Van highway
R-C-M-P in North Vancouver say a lead-footed driver with a learners licence is a lot poorer -- and less mobile -- today after making a bad choice on Friday night. Mounties say the 19-year-old was clocked doing 199 kilometres per hour in an 80-kilometre per hour zone along the Upper Levels Highway through North Van.

19-year-old clocked going 199 km on North Van highway