Cases considered: Brookfield Bridge Lending Fund Inc. v. Vanquish Oil and Gas Corporation, 2008 ABQB 444, reversed 2009 ABCA 99, leave to appeal denied November 19, 2009
The Supreme Court of Canada has denied leave to appeal to the joint operators in the Brookfield Bridge case. The case involves the circumstances under which a joint operator might be able to establish a constructive trust over assets of the operator other than those already impressed with an express trust by the language of clause 507 of the CAPL Operating Procedure in a situation where the operator expends monies from the commingled account for its purposes.
I commented on both the trial judgement (granting the constructive trust) which I criticized, and the judgement in the Court of Appeal (reversing by a majority) .
I really have nothing to add to those comments and I should heed the caution that it is dangerous to read too much into a decision to deny leave; this is more in the nature of a heads up that the Court of Appeal’s judgement represents the law in Alberta.
