KSV Kofman Inc., trustee in bankruptcy of Gerald McGoey

Back to all cases Gerald McGoey held senior executive positions at Bell Canada, BCE, Look Communications and Unique Broadband Systems before becoming the subject of large amounts of litigation which alleged wrongdoing on his part. He ultimately became a significant judgment debtor and declared bankruptcy. When the trustee sought to realize on McGoey’s assets, he asserted that two properties (a cottage and a farm) were held in trust for his children. The trustee brought a motion to the Court to have the alleged trusts declared to be shams and set aside. Central to the case was the discovery that the trust indentures upon which McGoey relied were created using a font that did not yet exist at the time the indentures were allegedly created. The Trustee successfully had the trusts declared to be shams and McGoey’s interest in the properties was placed in his estate for distribution to creditors.

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