Disgruntled investors, who bought asset-backed financial instruments, will need to go to the Supreme Court of Canada if they still want to scuttle an...

Shortly after Charles was decided by the High Court of Australia, another fixed investment trust was the subject of taxation proceedings. This time, it was before the Supreme Court of Canada in MNR v. TransCanada Investment Corporation Ltd. The trust was a typical fixed investment trust. Under the trust deed, an administrator (i.e.