A legal system cannot adequately function without providing an effective mechanism for litigants to acquire their monetary judgements. The legislative methods employed in British.
A legal system cannot adequately function without providing an effective mechanism for litigants to acquire their monetary judgements. The legislative methods employed in British Columbia to enforce money judgements have been criticized as outdated, expensive and inefficient. The Court Order Enforcement Act, RSBC 1996, c .78 COEA was imported from the United Kingdom and governs judgement creditors ability to collect money owed by a court order.
Justice Newbury: It would have been an easy matter for the Legislature to except debts arising under the Securities Act among the exceptions that exist in the…
A man who owes the B.C. Securities Commission more than $36 million will not have to preserve his retirement accounts in order to pay his debts, according to a ruling from B.C. s highest court.
Registered retirement accounts are fair game: Enhanced tools for securities regulators to fight white-collar crime
Canada
December 14 2020
In November 2020, the British Columbia Securities Commission (the “Commission”) dismissed an application brought by Earle Pasquill for an order to revoke a preservation order made under the British Columbia
In 2014, the Commission found that Pasquill and Michael Lathigee, who jointly directed and controlled the Freedom Investment Club group of companies (“FIC Group”), perpetrated a fraud by misleading investors and misusing investment funds. In one of British Columbia’s largest frauds, Pasquill and Lathigee raised $21.7 million from nearly 700 Canadian investors without disclosing important facts about FIC Group’s financial circumstances. DLA Piper’s case comment on the Lathigee case can be found here.