HIGHLIGHTS
A Justice of the Alberta Court of Queen's Bench has concluded that a transfer of two quarters of farmland owned jointly by a husband and wife to a wife were "at under value" and were therefore void against the bankruptcy trustee's assignee. The transfer occurred in February of 2014. The husband made an assignment into bankruptcy in March of 2014. The Court held that it was not necessary to establish the transfer was fraudulent, as it was not made at arm's length. The Court directed an oral hearing with respect to whether or not the farmer was entitled to claim an exemption in the transferred farmland. (Royal Bank of Canada v. Racher, CALN/2017-042, [2017] A.J.
Alberta Court of Queen's Bench)
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