A Trustee applied to set aside a share swap as a transfer under value pursuant to Section 96 of the Bankruptcy and Insolvency Act, RSC 1985, c B-3 (the Section 96 Application). The Respondent successfully resisted the Section 96 Application, and the parties subsequently wrote the Court to address Costs. In the Decision, the Court also considered an unsuccessful Application by the Respondent under Rules 4.31 and 4.33. The Section 96 Application was adjourned due to issues raised at the last minute.

The Court noted that it had broad discretion to Order Costs pursuant to Rule 10.31. After considering the circumstances, the Court awarded three times Column 3 of Schedule C Costs to the Respondent.