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The courts already are holding the DM's funds until sorted. If he is 'not guilty' of murdering his dad, he will inherit WM's estate, and all of the monies will belong to DM, and all of it (except debts he already owes) will be up for grabs in the Bosma civil suit.I get that part but I think any monies should (somehow) go to the victims.
Possibly there could be a court order for the monies to be held by the Official Guardians Office until the court decides/sorts it out. It's a mess, although I understand what they are trying to accomplish.
The courts already are holding the DM's funds until sorted. If he is 'not guilty' of murdering his dad, he will inherit WM's estate, and all of the monies will belong to DM, and all of it (except debts he already owes) will be up for grabs in the Bosma civil suit.
If he is 'guilty' of murdering his dad, he cannot inherit WM's estate. Any of DM's own monies (after paying whatever debts he already owes) will be up for grabs in a civil suit. WM's estate, on the other hand, will pass to his next of kin, bypassing DM, and will not be available in any civil suits against DM, as WM was not involved in his crimes.
From the article you posted;
That is a long time for the decision. I want to know that Wayne will get justice and also I want to know that either the inheritance and insurance money will go to next of kin if he is convicted or to the families of victims if not.From the article you posted;
"Ontario Superior Court Justice Maureen Forestell said Thursday morning she would not be in a position to give a decision until Sept. 24."
That is a long time for the decision. I want to know that Wayne will get justice and also I want to know that either the inheritance and insurance money will go to next of kin if he is convicted or to the families of victims if not.
I will be disappointed if he is not convicted for murdering his father, but know he is never getting out of prison and he is not getting any money whatever the verdict is.
I'm always amused when people claim to know the state of Millard's finances. Read Justice Code's ruling from the Rowbotham hearing. No one knows how much money there is because they don't know where the money from the sales of the various properties went. Furthermore we don't know what assets Wayne Millard had or didn't have.Maybe the topic of the Bosma civil suit should have a seperate thread? I just wanted to mention even if DM is found not guilty of the murder of WM, TBs family doesn’t immediately get dibs on whatever’s left of WMs Estate. The civil suit was indeed filed in May 2015 but hasn’t proceeded to the point that money has been awarded. That could still could take years.
But now I see why the Crown didn’t introduce evidence to prove a viable, rosy future for Millardaire. It’s since claimed bankruptcy and that’d also be likely why DM was later forced to transfer assets to his mother to sell in order to pay off the company’s loans. Had that not occured, the bankruptcy court has the legal right to cease DMs (and WMs) personal property if he signed a personal guarantee when the company’s loans were obtained (very common) if later the company had insufficent assets to pay them off. Between losses incurred by the eventual liquidation of Millardair and legal fees to various lawyers, defence for criminal and civil plus bankruptcy, sadly it’s possible there’s not much of anything left of Carl’s lifetime endeavours.
“.........Court heard Millard has a 50-per-cent stake in Millardair and Millard Properties, with his father’s estate owning the balance.
Those companies are now in court-appointed receivership, which means their assets are effectively frozen.
The Bosma family has filed a $14-million lawsuit against Millard and Smich, but court heard that process remains at a standstill because of the receivership proceedings.....”
Convicted Bosma killer and aviation empire heir Dellen Millard is broke, court hears
I'm always amused when people claim to know the state of Millard's finances. Read Justice Code's ruling from the Rowbotham hearing. No one knows how much money there is because they don't know where the money from the sales of the various properties went. Furthermore we don't know what assets Wayne Millard had or didn't have.
I was at the Rowbotham hearing where the Crown stated their forensic accountants believed Millard could have $2 million or several million north of that.
Millard took the steps he did to try and protect his money. No one forced him to do what he did.
I suspect the reason the Crown didn't make an issue of Millard's finances is because tracing money is very complex and time consuming. White collar crime cases can drag on for months and they didn't want to go down that rabbit hole.
How much money are convicts permitted to have while incarcerated? Is there a limit? If someone is rich on the outside, does that automatically mean they’re rich on the inside as well?
I'm always amused when people claim to know the state of Millard's finances. Read Justice Code's ruling from the Rowbotham hearing. No one knows how much money there is because they don't know where the money from the sales of the various properties went. Furthermore we don't know what assets Wayne Millard had or didn't have.
I was at the Rowbotham hearing where the Crown stated their forensic accountants believed Millard could have $2 million or several million north of that.
Millard took the steps he did to try and protect his money. No one forced him to do what he did.
I suspect the reason the Crown didn't make an issue of Millard's finances is because tracing money is very complex and time consuming. White collar crime cases can drag on for months and they didn't want to go down that rabbit hole.
Where have you seen that Millardair has claimed bankruptcy?.... But now I see why the Crown didn’t introduce evidence to prove a viable, rosy future for Millardaire. It’s since claimed bankruptcy and that’d also be likely why DM was later forced to transfer assets to his mother to sell in order to pay off the company’s loans. Had that not occured, the bankruptcy court has the legal right to cease DMs (and WMs) personal property if he signed a personal guarantee when the company’s loans were obtained (very common) if later the company had insufficent assets to pay them off. Between losses incurred by the eventual liquidation of Millardair and legal fees to various lawyers, defence for criminal and civil plus bankruptcy, sadly it’s possible there’s not much of anything left of Carl’s lifetime endeavours.
“.........Court heard Millard has a 50-per-cent stake in Millardair and Millard Properties, with his father’s estate owning the balance.
Those companies are now in court-appointed receivership, which means their assets are effectively frozen.
The Bosma family has filed a $14-million lawsuit against Millard and Smich, but court heard that process remains at a standstill because of the receivership proceedings.....”
Convicted Bosma killer and aviation empire heir Dellen Millard is broke, court hears
Where have you seen that Millardair has claimed bankruptcy?
The article I quoted earlier refers to receivership proceedings. A receiver is involved in liquidation due to bankruptcy/insolvency.
“...Court heard Millard has a 50-per-cent stake in Millardair and Millard Properties, with his father’s estate owning the balance.
Those companies are now in court-appointed receivership, which means their assets are effectively frozen.
The Bosma family has filed a $14-million lawsuit against Millard and Smich, but court heard that process remains at a standstill because of the receivership proceedings...”
Convicted Bosma killer and aviation empire heir Dellen Millard is broke, court hears
Receivership / Bankruptcy - Canada.ca
I believe that bankruptcy is not the only reason why a court would appoint a receiver and freeze assets. I do not believe there is a bankruptcy involved in the seizing of DM's assets. I think it's much more complicated than that.
MOO