Lambert v. Lambert

Lambert v. Lambert

The court found that the parties intended the company to be a family business and that the respondent, who holds legal title to 50% of the shares, holds one-half of that legal interest on trust for the petitioner; consequently a declaration of trust and orders to transfer the legal interest were made to reflect the...

Source-derived case information.

Citation
2002 BCSC 799
Parties
Petitioner: David Lambert; Respondent: Arlene Lambert
Court
Supreme Court of British Columbia
Jurisdiction
Canada
Judgment Date
23 May 2002
Procedural Posture
Petition for Declaration of Trust / Reasons for Judgment
Outcome
Petition granted: declaration of trust in favour of petitioner
Legal Topics
Constructive Trust, Beneficial Ownership of Shares, Declaration of Trust, Family Business Contributions
Source Language
english
Family Law Trusts and Equitable Remedies Property Law Corporate/share Ownership Constructive Trust Beneficial Ownership of Shares Declaration of Trust Family Business Contributions

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Parties

David Lambert

Petitioner

Arlene Lambert

Respondent

Procedural Posture

Petition for Declaration of Trust / Reasons for Judgment

Legal Issues

  1. 1 Whether the respondent holds beneficial interest in shares notwithstanding her legal title
  2. 2 Whether a trust (constructive or resulting) arises to reflect parties' intention in a family business context
  3. 3 What relief and orders should be made to give effect to the beneficial interest

Ratio Decidendi

The court found that the parties intended the company to be a family business and that the respondent, who holds legal title to 50% of the shares, holds one-half of that legal interest on trust for the petitioner; consequently a declaration of trust and orders to transfer the legal interest were made to reflect the parties' beneficial ownership.

Court Disposition

Petition granted: declaration of trust in favour of petitioner

Orders

  • Declaration that the respondent holds one-half of her legal interest in 50% of the common shares of Williams Security Services Ltd. in trust for the petitioner
  • Respondent to take any steps required to transfer legal ownership of those shares to the petitioner and prohibited from exercising any rights or entitlements associated with her legal ownership of those shares