On December 6, 2024, Cody Reedman of Reedman Law acted as lead counsel for the appellants at the Supreme Court of Canada. He previously acted as counsel before the BC Court of Appeal and on the initial chamber's application.
On July 31, 2024, the Supreme Court of Canada released its reasons for judgement in Poonian v. British Columbia (Securities Commission), 2024 SCC 28 granting the appeal in part. The appeal dealt with the interpretation of sections 178(1)(a) and (e) of the Bankruptcy and Insolvency Act and whether financial sanctions imposed by a provincial securities commission are released upon a bankrupt's discharge from bankruptcy. In a 5-2 decision, the SCC held that administrative monetary penalties do not fall into the category of debts that survive a discharge from bankruptcy; however, disgorgement orders may survive a discharge from bankruptcy. The decision can be viewed here: https://decisions.scc-csc.ca/scc-csc/scc-csc/en/item/20555/index.do
Inquires can be sent to Cody Reedman at creedman@reedmanlaw.com
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