Hollinger Inc. v. The Queen, 98 DTC 1913 (TCC), aff'd 99 DTC 5500 (FCA)

In finding that shares with a high adjusted cost base but nominal fair market value that the taxpayer had acquired with a view to realizing the accrued capital loss were capital property to the taxpayer, Bowman TCJ. stated (at p. 1918):

"I do not regard a decision to sell an unproductive investment on terms that are as favourable as possible as a change of use, giving rise to deemed disposition and a conversion from capital to inventory."

In finding that shares with a high adjusted cost base but nominal fair market value that the taxpayer had acquired with a view to realizing the accrued capital loss were capital property to the taxpayer, Bowman TCJ. stated (at p. 1918):

"I do not regard a decision to sell an unproductive investment on terms that are as favourable as possible as a change of use, giving rise to deemed disposition and a conversion from capital to inventory."