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Focus on Insolvency Law: Court Refuses Insurer's Application to Terminate Policy Due to the Receivership of the Insured
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Date: April 27 2007 |
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In Re: Village Green Lifestyle Community Corp. (2007) Carswell Ont. 654 (Ont. S.C.J.) an insurer provided commercial general liability and property loss insurance to a retirement community situated on 164 acres, containing a retirement home, conference centre, health retreat, medical lab, golf course, rental apartments and outdoor recreation grounds. As a result of the receivership of the debtor the insurer applied for leave to terminate the insurance policy and refund to the estate the balance of the pre-paid premium...
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