What is sufficient assets for a corporation to be enforceable in a personal injury action?
Prince Edward Island, Canada
The following excerpt is from MacArthur v. Atlantic Canada Home Inc., 1999 CanLII 4021 (PE SCTD):
The question of what is sufficient assets was described by Rosenberg J. in Smith Bus Lines v. Bank of Montreal 20 CPC (2d) 38 as follows: Insufficient assets relate to the possibility that the defendant, if successful, will not be able to recover costs. Costs could only be recovered if the corporation had assets that could be the subject of an enforcement of judgment. (p. 40)
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