The transfer of a Kootenay farm from a man to his alleged ex-wife for “$1, and natural love and affection” was part of a fraudulent attempt to shield the property from the man’s creditors as he went into receivership.
’s top court sided with creditors in finding that the transfer of a Kootenay farm from a man to his alleged ex-wife for “$1, and natural love and affection” was part of a fraudulent attempt to shield the property from the man’s creditors as he went into receivership.
And in March 2017, the pair added two separate mortgages to the property, one for $300,000 and the other for $700,000, each issued “by a consortium of individuals rather than a former lender,” according to the Feb. 13 Court of Appeal decision, penned by Justice J. Christopher Grauer with unanimous assent from the panel of three judges.
In October 2016, Gurmeet officially removed himself as a director of the Brar Berry Farms and transferred his 50 per cent interest in the company to their son, Mavin. But Kootenay Savings Credit Union, the plaintiff in the case, argued the farm transfers were done to “insulate it from the ongoing collection efforts against Gurmeet,” seeking an order declaring the transfer void.
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