Harvest Operations Corp v. A.G. (Canada), 2015 DTC 5067 [at at 5904], 2015 ABQB 327

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Summaries

Summary Under

taxpayer estoppel when it claimed a tax benefit from its mistake rather than promptly seeking rectification

A debtor transferred assets to an affiliated creditor in order to repay debt of approximately $170 million owing by it. However, the conveyance...

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Summary Under

requested rectification order to fix bump did not match parties' specific plan at closing

The Bump Mistake

A predecessor in interest of the applicant ("Viking") entered a multi-step acquisition and restructuring transaction to acquire...

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Summary Under

failure to fund debt repayment through increased purchase price

A last-minute requirement of a Target lender for its loan to be repaid on closing resulted in the purchase price being reduced by $35M and that...

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