Wilson (Bankrupt), Re, 2016 NBQB 59

Court:Court of Queen's Bench of New Brunswick
Case Date:December 16, 2015
Jurisdiction:New Brunswick
Citations:2016 NBQB 59;(2016), 448 N.B.R.(2d) 382 (QB Reg.)
 
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Wilson (Bankrupt), Re (2016), 448 N.B.R.(2d) 382 (QB Reg.);

    448 R.N.-B.(2e) 382; 1179 A.P.R. 382

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Temp. Cite: [2016] N.B.R.(2d) TBEd. MR.022

Renvoi temp.: [2016] N.B.R.(2d) TBEd. MR.022

In The Matter Of the bankruptcy of Paul Douglas Wilson

(NB 20440; Estate Number 51-1698550; 2016 NBQB 59; 2016 NBBR 59)

Indexed As: Wilson (Bankrupt), Re

Répertorié: Wilson (Bankrupt), Re

New Brunswick Court of Queen's Bench

In Bankruptcy and Insolvency

Evans, Deputy Registrar

March 9, 2016.

Summary:

Résumé:

Wilson applied under s. 172(3) of the Bankruptcy and Insolvency Act to vary a conditional order of discharge.

The Deputy Registrar of the New Brunswick Court of Queen's Bench, In Bankruptcy and Insolvency, dismissed the application.

Bankruptcy - Topic 8922

Discharge of debtor - Conditional discharge - Considerations - Surplus income - In December 2012, Wilson made an assignment into bankruptcy - His monthly income during the administration of the bankruptcy varied between $7,800 and $8,600 except for February 2013 and February 2014, when he had an income of $20,678 and $20,759 due to annual bonuses - In September 2014, a discharge was issued conditional upon payment of $23,643 of surplus income for the benefit of creditors - Wilson applied under s. 172(3) of the Act to vary the conditional discharge order - Although he did not dispute the mathematical calculation of surplus income, he had been under the impression that his bonuses had been considered in December 2012, when the surplus income was initially calculated and he made monthly payments accordingly - Wilson stated that he provided his monthly income statements regularly, disclosed the annual bonuses, and was shocked to learn the amount owing upon his conditional discharge - The Deputy Registrar of the New Brunswick Court of Queen's Bench, In Bankruptcy and Insolvency, held that the factual circumstances did not warrant a variation of the surplus income owing - Wilson's annual income at the time of the hearing was about $108,000, about $5,000 more than in 2012, with a similar annual bonus structure - There was no evidence that he could not maintain his family of six, and no reason given to deprive his creditors - It was a bankrupt's duty to pay surplus properly calculated to the benefit of the creditors - Wilson was concerned about the time provided to pay off surplus income as the Trustee's office had advised him that all surplus was to be paid within five years of filing (December 2017) - The five year mark was due to the Superintendent's policy respecting the monitoring of files which extended beyond that period - The Deputy Registrar was confident that the trustee and Wilson would reach a rate of payment satisfactory to all, which might go beyond the five year mark, but would be paid in full before 2020.

Bankruptcy - Topic 8925

Discharge of debtor - Conditional discharge - Upon payment to trustee - [See Bankruptcy - Topic 8922 ].

Bankruptcy - Topic 8933

Discharge of debtor - Conditional discharge - Variation of conditions - [See Bankruptcy - Topic 8922 ].

Counsel:

Avocats:

Larry Crandall, Grant Thornton Limited, Trustee;

Paul Douglas Wilson, on his own behalf.

This application was heard on December 16, 2015, and January 28, 2016, by Evans, Deputy Registrar, of the New Brunswick Court of Queen's Bench, In Bankruptcy and Insolvency, who delivered the following judgment on March 9, 2016.

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