Is disclosure and an update to the trust ledger required in relation to pre-paid rent credits?
Ontario, Canada
The following excerpt is from 8254125 Canada Inc. v. Celernus Investment Partners Inc., 2019 ONSC 3144 (CanLII):
In my view, any good faith disclosure obligations that might have existed independent of this representation (for example such as those found in Gemeinhardt v. Babic) would also be in relation to facts known at the time of the Settlement Agreement. The possibility that the pre-paid rent credits might be challenged and that there might be an adjustment is not sufficiently concrete to require disclosure and an update to the trust ledger, in my view.
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