Rectification success

In Slightham et al. v. AGC, 2023 ONSC 6193, the Court granted rectification of a trust deed that inadvertently prohibited the allocation of income derived from Opco to Holdco, which was a beneficiary of the trust. The parties had intended only to prevent the allocation of income to Holdco that was derived from Holdco to address concerns about subsection 75(2). The Court addressed Fairmont in detail and concluded that its principles did not preclude relief. The Attorney General did not oppose the application.

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