Disgorgement Orders as Non-Dischargeable Debt

Jassmine Girgis of the University of Calgary reveals that the British Columbia Supreme Court in Re Williams applied the Supreme Court’s guidance in Poonian to hold that a $6.8 million securities-commission disgorgement order arising from a Ponzi scheme was a non-dischargeable debt under s 178(1)(e) of the BIA because it was directly linked to the debtor’s fraudulent misrepresentations.

Read more.