Indcondo Building Corp. v. Sloan, 2010 ONCA 890 (discoverability in a fraudulent conveyance action brought by a creditor)

Indcondo Building Corp. v. Sloan, 2010 ONCA 890, involved the interplay between the Bankruptcy and Insolvency Act, R.S.C. 1985, c. B-3 (“BIA”) and the Limitations Act, 2002, S.O. 2002, c. 24, in a fraudulent conveyance action brought by a creditor, Indcondo, pursuant to a section 38 order under the BIA.  Section 38 provides a mechanism for creditors to proceed with an action when a trustee refuses or fails to act.  The issue was whether the discoverability principle under sections 5 and 12 of the Limitations Act is based on the discoverability of the trustee or on the discoverability of the creditor.

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