Canada's high court to rule if bankruptcy wipes out court-ordered fines in B.C. case
BNN Bloomberg
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.
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U.S. markets ticked slightly lower and oil prices rose early Tuesday as the war in the Middle East continued a day after U.S. President Donald Trump said the United States had made progress in talks with the Islamic Republic to end the conflict.
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It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.