The court hears arguments in case #28871, ScotiaMcLeod v. The Bank of Nova Scotia, et al., on November 4, 2003.
Guy Thibault was the owner-annuitant of a self-directed registered retirement savings plan (RRSP) for which the trustee was identified as the Bank of Nova Scotia Trust Company. The plan identified ScotiaMcLeod Inc. as the trust company’s agent. On August 5, 1999, The Bank of Nova Scotia, as one of Mr. Thibault’s creditors, attempted to seize assets in Mr. Thibault’s RRSP from ScotiaMcLeod. Mr. Thibault applied to the Superior Court of Ontario to have the seizure quashed, but the court dismissed his application. ScotiaMcLeod appealed this decision, but the Court of Appeal upheld the Superior Court’s decision. ScotiaMcLeod is appealing that decision to the Supreme Court.
Lawyers Julie-Martine Loranger and Marzia Frascadore present arguments on behalf of ScotiaMcLeod Inc. Lawyer James Woods presents arguments as amicus curiae. Lawyer Danny Galarneau presents arguments on behalf of the Deputy Minister of Revenue of Quebec, an intervener in the case.