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Important Legal Decision: How Priority Is Assigned Between Construction Act Lien And Licensed Insolvency Trustee Fee
Ira Smith Trustee & Receiver Inc.
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I discuss a recent Construction Act Court decision allowing licensed insolvency trustee bankruptcy fees to rank ahead of a secured claim. Now there is a decision released by the Alberta Court of King’s Bench of Alberta on February 15, 2023, regarding Golfside Ventures Ltd (Re), 2023 ABKB 86 (CanLII). This decision relies on the Court's inherent jurisdiction rather than following a specific rule set out in the Bankruptcy and Insolvency Act (Canada) (BIA). Based on the specific facts of this case, this decision sets the priority between a construction lien and the fee and disbursements of a licensed insolvency trustee (formerly called a bankruptcy trustee).
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