Bank owes unremitted tax of former client: Federal Court of Appeal

By Ian Burns ( May 15, 2020, 2:20 PM EDT) -- The Federal Court of Appeal has confirmed secured creditors who receive proceeds from a tax debtor’s property when that person owes GST to the Crown is required to pay that debt in priority to all other security interests, with a real estate lawyer calling the decision concerning as it has the potential to add uncertainty to future financing decisions....
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