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SCC Decision: October 24, 2008

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Saulnier v. Royal Bank of Canada, 2008 SCC 58
Click here to link to the full judgment.
(Bankruptcy / Security / Property / Commercial fishing licences)
S entered a General Security Agreement and a guarantee in order to finance his fishing business.  His business ultimately failed and he made an assignment in bankruptcy.  The receiver and trustee in bankruptcy sold his four fishing licences, but S refused to sign the documents necessary to complete the sale.  The trustee and creditor bank sought declaratory relief.  S claimed that the licences did not constitute "property" or "personal property" under the relevant statutes.  The Court disagreed, holding that the fishing licenses constituted property and personal property.
Majority/Dissent: 8/0