What is the test for misappropriation under bankruptcy legislation?
Ontario, Canada
The following excerpt is from Fong v. Cheung, 2010 ONSC 4198 (CanLII):
The relevant principles are set out in Simone v. Daley[2], in which the court concluded that to be consistent with the purposes of bankruptcy legislation, the words misappropriation or defalcation must be interpreted as requiring some element of dishonesty, wrongdoing or misconduct.
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