Supreme Court Dismissal of Leave Application
Back to all news
Matthew Gottlieb and Ryann Atkins obtained a dismissal of an application for leave to appeal to the Supreme Court of Canada, in a case in which they were successful in having the Ontario Court of Appeal overturn the Superior Court’s decision. This case is the first time that the courts have interpreted the Limited Partnerships Act, R.S.O. 1990, C. L. 16 to determine whether a limited partner is entitled to a share of the residual assets of the company on dissolution, absent a partnership agreement on the subject. The Ontario Court of Appeal unanimously held, on the clear wording of the statute, that the limited partner is not entitled to any share of the residual assets, overturning the decision of the applications judge below. The Supreme Court’s dismissal of the leave application is an acknowledgement that there is no gap in the legislation that requires Court intervention. See the Ontario Court of Appeal judgment here:
2019 ONCA 314.