In Anthony v. Binscarth Holdings GP Inc. (Ont CA, 2025) the Ontario Court of Appeal dismissed an appeal, here from a dismissal of their application seeking "a declaration that they are entitled to receive from Binscarth Holdings L.P. (the "Partnership") payment of 100% of the appellants' proportionate share of the net income of the Partnership on an annual basis by way of a cash distribution, retroactive to January 1, 2016".
Here the court considers the Accumulations Act, which the court identifies as an estates and trust-purposed statute:
[17] In terms of the subsidiary argument, the Accumulations Act, and its prohibition on the accumulation of income arising from the disposition of real or personal property, has no application to this case. The statute is directed to testamentary dispositions or the settling of trusts. It was never directed to commercial endeavours nor were its prohibitions intended to apply to such commercial activities.[2] This reality likely explains why the appellants cannot point to a single case where the Accumulations Act has been applied in this context.
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