Caines, Re, 2010 NLTD 72

The bankrupt was the holder of a commercial fishing licence. He was discharged from his bankruptcy before the Supreme Court of Canada released its decision in Royal Bank of Canada v. Saulnier (2008), 298 D.L.R. (4th) 193, in which that Court concluded that a fishing licence was “property” for purposes of the PPSA and BIA.

In the case at hand his trustee had not yet been discharged. The court held that the bankrupt’s discharge did not automatically revest the fishing licence in him. The licence was still vested in the trustee who was authorized to sell it for the benefit of his estate.