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Making Litigation Pay: Identifying and Securing the Debtor's Assets, and Realizing on Judgments

Davis LLP Litigation Breakfast Seminar

Friday, 22 June 2012

A look at tools available in the litigation process for locating and securing debtors' assets, whether in Canada or overseas

This presentation addresses three main topics in using litigation to recover assets: Preserving assets in Canada before judgment, international recovery in the Canadian context, and offshore preservation and recovery.

A PDF of the seminar presentation can be downloaded by clicking on the Slideshare icon below.

 

 

Supplementary Materials: Table of "Freezable" Assets and Receivables by Type

Asset Types

Assets

Examples
Real Property
Personal Residences in Canada Principal residence, investment properties, residences occupied by family members, lots, vacation properties, cabins
Personal Residences Overseas  
Other Property in Canada Farmland, undeveloped property, commercial property held personally
Other Property Overseas  
Real Property held beneficially in Trust  
Rights of Access Easements, access to beaches, development rights, parking, cooperative rights, timeshares
Securities
Shares Certificated shares, uncertificated shares, shares in foreign entities, sole proprietorships (i.e. unissued shares)
Other equity instruments Preferred Equity Certificates (PECs), participations, trust units, fund units
Bonds or fungible debt instruments Corporate bonds, savings bonds, treasury notes, commercial paper, GICs
Derivatives Swap receivables, derivative contracts (i.e. options)
Cash
Bank Accounts Securities trading and cash accounts, chequing/savings accounts
Tender Safety deposit boxes, home safes, cash in safe places, wallets, purses
Tender's worth Bearer securities, unused traveller's cheques, money orders, bank drafts, cashier's cheques
Trust Accounts Accounts held by trustees, attorney's trust account
Cash/debt instruments Credit cards, lines of credit
Other investments
Precious Metals and stones Gold, silver, diamonds
Intellectual Property Copyrights, patents, trade marks
Savings Products
RRSP, RRIF, RESP, TFSA, foreign equivalents (401k, ISAs)
Receivables
Salaries Employment salary, disability benefits, annuities, pensions
Business receivables Accounts outstanding, payments on contracts for goods/services, loan principal and interest, shop credits
Passive revenue Royalties, rights payments
Investment receivables Declared but unpaid dividends, swap positions, receivables on hedge positions
Chattels
Vehicles Automobiles, boats, aircraft, recreational vehicles, ATVs, motorcycles
Tools for Trade Professional tools, power tools, workshop equipment, scientific equipment
Collections Coins, stamps, wine, artwork, antiques, memorabilia, books, objets d'art
High-value household goods Musical instruments, telescopes, sports equipment, exercise equipment, guns, computers, furnishings, fountains, silver, plateware
Luxury Items for resale Jewellery, watches, purses, fur coats, any product by a luxury label
Miscellaneous
Contract rights Club memberships, tickets, loyalty programmes, naming rights
Contingent rights Inheritances, unpaid tax refunds, unpaid expenses, rights of first refusal, litigation

 

Authors

Brandon Barnes
416.365.3429

David Foulds
416.941.5392

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