Newsletters

49

Trifecta on sale of an insurance policy

Did you know that an insurance policy that you may have taken out many years ago could now have a substantial market value? You could sell this policy to your corporation on a tax-free basis (in most cases) and receive substantial tax-free dollars.

Click here for Barry H. Shapiro and Martin Lord’s explanation of this tax strategy.

49

Authors

Barry H. Shapiro

Lawyer, Partner

Articles in the same category

Is it transported? Is it stored? You may have to defend!

In the recent decision Intact Compagnie d’assurance c. Entreprises Transkid inc., 2024 QCCS 16, the Superior Court of Quebec (the “Court”) was tasked with determining if a global transportation insurance policy providing civil liability insurance coverage in respect of goods transported by truck could extend to temporary storage. The Facts This matter concerns the theft […]

Handling Of Claims By Insurers – Reminder Of A Few Principles

On February 12, 2024, the Court of Appeal rendered an interesting decision in a dispute between Société d’assurance Beneva Inc. (“Beneva”) and its insureds1. Origin of the dispute and judgment of the Superior Court The legal action was initially brought before the Superior Court by the insureds2, as a result of Beneva’s refusal to indemnify […]

Is Loss Of Enjoyment A Covered Loss?

The Court of Quebec recently ruled on this issue in Long BÉ Express Limited v. Service Routier ML Inc. and Intact Insurance Company. In the context of a “Wellington” Motion, Service Routier requested that its insurer take up its defence and assume its costs in the lawsuit brought by Long‑BÉ Express Limited. Service Routier offered […]

Even Judicial Discretion Has its Limits

On January 25, 2024, in the Liquidation de Groupe Dessau inc., the Superior Court of Québec rejected a settlement approval request in the context of the voluntary liquidation of several entities of the Dessau-Verreault-LVM Group (“Dessau“). This judgment addresses the limits of the discretionary powers of the court in voluntary liquidation matters. Overview of the […]

The Pool Floats, the Claim Sinks

In the recent decision Piscines Élégance – Québec inc. v. Comtois, 2023 QCCS 4574, the Superior Court reiterates the rules governing a contractor’s obligation to inform his customer in the context of a fixed-price consumer contract for which hefty extras were billed. Piscines Élégance – Québec Inc. (“Piscines“) is claiming from defendant Comtois (“Comtois“) the […]

Apostille: A Simplified Process for International Legalisation of Documents

On January 11, 2024, a new procedure came into effect for the legalisation of documents issued throughout Canada (including Québec) and which are destined to be produced before foreign authorities, whether they be supporting documents for administrative purposes such as the issuing of permits or full-fledged pieces of evidence used as exhibits in international Court […]