Statutory Trust

A statutory trust is one brought into existence by operation of a statute, i.e. a law by a legislature.  In essence a statute designates defined property in defined situations as trust property and mandates that a certain person shall be a trustee for same.  These may be in favour of the Crown (be it the federal or a provincial government) or private persons (i.e. legal persons: individuals or corporations).

See for example: The Guarantee Company of Canada v. Royal Bank of Canada (2019 ONCA 9 CanLII; GMAC Commercial Credit Corporation – Canada v. TCT Logistics Inc., 2005 CanLII 3584 (ON CA); British Columbia v. Henfrey Samson Belair Ltd., 1989 CanLII 43 (SCC), [1989] 2 SCR 24

Leave a comment

Your email address will not be published. Required fields are marked *

Visit Us On TwitterVisit Us On FacebookVisit Us On Linkedin