In Fairmont Hotels Inc. et al v. A.G. Canada, 2014 ONSC 7302, the Superior Court of Ontario exercised its discretion to allow Canadian companies in a group to retroactively convert share redemptions (in 2007) into loans instead, under the equitable remedy of rectification. The Court applied the Ontario Court of Appeal’s well-known decision in Juliar v. Canada (Attorney-General) (1999), 50 OR (3d) 728 (C.A.), saying that the demonstrated purpose of the various transactions in 2007 was not to redeem the shares per se, but rather to unwind the existing financing structure on a tax-free basis. The redemption of shares was mistakenly chosen as a means to achieve this purpose (see paragraph 43). If rectification were not granted in this case, CRA would have an unintended gain arising from the mistake (see paragraph 44).