A-1 Asphalt v Guarantee: Decision FINAL

March 29, 2019

In the January edition of What’s New in Surety, we reported the unanimous 5-panel decision of the Ontario Court of Appeal in the case of The Guarantee Company of North America v. Royal Bank of Canada. The ruling reaffirmed a sacred principle of construction and surety law; upholding the sanctity of trust funds established under the Construction Lien Act and ensuring that these monies cannot be attacked by other creditors through the Bankruptcy and Insolvency Act.