Is there a bar to continued tracing arising from a third party purchaser's purchase of a trust fund?
Ontario, Canada
The following excerpt is from 2303757 Ontario Inc. v. 2149589 Ontario Ltd., 2018 ONSC 5714 (CanLII):
I acknowledge that in McTaggert v. Boffo, as above, Lieff J. described the bar to continued tracing arising when the trust funds found their way “into the hands” of the third party purchaser for value. But I do not think that phrase should be read literally, so as to require that the third party purchaser actually have physical possession of the trust funds.
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