GUILTY - Wayne Millard Murder Trial - Dellen Millard Charged With Murder - #4

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Aside from bankruptcy, what do you think is another reason for a court-ordered receiver to become involved?

Maybe because one of the company owners was charged with murdering the other one, whom he also inherited his half of the businesses from? To my knowledge, MB was still being paid by one of the businesses at the time of the TB trial and perhaps still is today. The company is still receiving mortgage payments for the hangar. DM started transferring properties to his mother immediately after being arrested in the TB murder and that was considered "fishy" at the time. So I don't think bankruptcy was the issue when the court ordered the funds frozen. But I could be wrong.

MOO
 
Maybe because one of the company owners was charged with murdering the other one, whom he also inherited his half of the businesses from? To my knowledge, MB was still being paid by one of the businesses at the time of the TB trial and perhaps still is today. The company is still receiving mortgage payments for the hangar. DM started transferring properties to his mother immediately after being arrested in the TB murder and that was considered "fishy" at the time. So I don't think bankruptcy was the issue when the court ordered the funds frozen. But I could be wrong.

MOO

My thought is in Canada it’s important to each one of us that in the event of criminal charges, we are considered innocent until proven guilty beyond reasonable doubt. Therefore the Court has no authority to appoint a receiver to seize a persons company or property or anything based on the presumption of future guilt. I see nothing fishy about the properties being transferred to DMs mother in order for her to sell them and apply proceeds to liquidate the company’s debt. It’s been openly reported to the general public, nothing is hidden. Anyone can perform a land titles search.

We can agree to disagree but imo the The Star article outlines the proceedings very well.

As for mortgage payments for the hanger still being paid to the company, do you have a link for that?

@ Oct, 2016 this is reported. If you’re referring to the promissory note, that’s not the same as a mortgage. Promissory notes are essentially promises to repay at a specific date, in whole or in part.
“....Following a “protracted and difficult sale process” Millard Properties sold its interest in the Waterloo airport lease and hangar for $4.8 million in April 2015 – $3.2 million in cash, the rest as a promissory note, a report by a court-appointed receiver states....”
Dellen Millard’s tangled financial web | The Star

$4.8 million proceeds and was it Barnes who testified WM anticipated the total cost to be $10 million, but there were $5 million in cost overruns and then WM didn’t have the $10??? Regardless, big time losses!
 
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But technically he doesn’t have anything. He transferred/sold everything for $1 to his mother the first few days after his arrest. SS was selling off all the vehicles and seen one ad for a car but those all combined wouldn’t even put a dent in lawyers fees accumulated.

But then He had $1 million unfroze by order of the judge just before the LB case for lawyers. He didn’t want to pay fees and represented himself.
Not sure where this money was drawn from as DM claimed he was broke and could not afford a lawyer and applied for legal aide but was denied. I wonder if the money came out of the sales of properties his mom bought for $1 and sold?

Since it (transactions to mom) was done to hide assets for future civil cases against him, are there any court cases pending or would this be something being fought along side of the Bosma lawsuit?

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You disagree with Justice Code, who described Millard as a wealthy young man.
 
My thought is in Canada it’s important to each one of us that in the event of criminal charges, we are considered innocent until proven guilty beyond reasonable doubt. Therefore the Court has no authority to appoint a receiver to seize a persons company or property or anything based on the presumption of future guilt. I see nothing fishy about the properties being transferred to DMs mother in order for her to sell them and apply proceeds to liquidate the company’s debt. It’s been openly reported to the general public, nothing is hidden. Anyone can perform a land titles search.

We can agree to disagree but imo the The Star article outlines the proceedings very well.

As for mortgage payments for the hanger still being paid to the company, do you have a link for that?

@ Oct, 2016 this is reported. If you’re referring to the promissory note, that’s not the same as a mortgage. Promissory notes are essentially promises to repay at a specific date, in whole or in part.
“....Following a “protracted and difficult sale process” Millard Properties sold its interest in the Waterloo airport lease and hangar for $4.8 million in April 2015 – $3.2 million in cash, the rest as a promissory note, a report by a court-appointed receiver states....”
Dellen Millard’s tangled financial web | The Star

$4.8 million proceeds and was it Barnes who testified WM anticipated the total cost to be $10 million, but there were $5 million in cost overruns and then WM didn’t have the $10??? Regardless, big time losses!

There is no requirement of bankruptcy to go into receivership. There are other reasons for a party to enter into receivership, which you can easily find online.

Neither Millardair nor Millard Properties declared bankruptcy.

And while we know something about the state of the finances of these companies due to the receivership what we don't know about is the state of Wayne Millard's and his son's finances.

People assume that Wayne must have been broke because he took out the RBC loan and that he didn't have any other assets except his property. That may be correct. But for all we know, Wayne may have had an extensive investment portfolio that is now being managed by his estate . It's very common to get a loan for a business even if you could liquidate personal assets and fund the business yourself. I'm sure there are many people on this board who use a personal line of credit despite having an investment portfolio. It's just more convenient.

It's also plausible that the reason, Dellen was so quick to pay off Wayne's estate's share of the RBC loan was to ensure there wouldn't be third parties taking a close look at the state of Wayne's finances and assets. To this day, we have never seen an authoritative accounting of Wayne's financial state.

We also don't know, as Justice Code writes, how much cash Dellen received from the sale of his properties.

  • These sales of five residential properties in and around Toronto yielded a large amount of money. The exact net proceeds of these sales is somewhat unclear, from the record on the Rowbotham Application, but it was millions of dollars. He used this money, in part, to pay his legal fees in Hamilton. He also advanced substantial amounts, in the form of shareholder loans, to Millard Properties Inc. (Millard owns 50% of the shares of the company and he is the sole heir to the other 50% of the shares which are held by the Estate of Wayne Millard). That privately held company used these funds loaned by Millard to pay off its substantial debt to the Royal Bank, which then allowed the company to sell its main asset, a large modern airport hangar, unencumbered, for $4.8 million in April 2015. In essence, what Millard did between 2013 and 2015, after he was charged with the Bosma murder, was convert his substantial personal real estate holdings into debt, owed to him by Millard Properties Inc., and into cash that he used for legal fees.
Code also notes:

  • Counsel for the Attorney General took the position, on the Rowbotham Application, that Millard had not accounted for all of the proceeds of his various asset sales, both personal and corporate.
In fact, after the Rowbotham hearing, it suddenly came to light that there was an extra sum of almost $1 million sitting around that no one had so much as mentioned before:
  • As it turned out, the subsequent Commercial List proceedings before Hainey J. concluded that significant additional proceeds of the airport hangar sale were also available, although depleted somewhat in the two years since the asset sale (some $800,000 to $900,000 were being held by Millard’s mother, his Attorney for Property, in her capacity as Estate Trustee for Wayne Millard’s estate, of which Millard is the sole beneficiary
I really think the only conclusion that can be reached is that we have no idea how much money DEllen and Wayne's estate control. And I don't understand why people are so quick to conclude it's nothing.
 
There is no requirement of bankruptcy to go into receivership. There are other reasons for a party to enter into receivership, which you can easily find online.

Neither Millardair nor Millard Properties declared bankruptcy.

And while we know something about the state of the finances of these companies due to the receivership what we don't know about is the state of Wayne Millard's and his son's finances.

People assume that Wayne must have been broke because he took out the RBC loan and that he didn't have any other assets except his property. That may be correct. But for all we know, Wayne may have had an extensive investment portfolio that is now being managed by his estate . It's very common to get a loan for a business even if you could liquidate personal assets and fund the business yourself. I'm sure there are many people on this board who use a personal line of credit despite having an investment portfolio. It's just more convenient.

It's also plausible that the reason, Dellen was so quick to pay off Wayne's estate's share of the RBC loan was to ensure there wouldn't be third parties taking a close look at the state of Wayne's finances and assets. To this day, we have never seen an authoritative accounting of Wayne's financial state.

We also don't know, as Justice Code writes, how much cash Dellen received from the sale of his properties.

  • These sales of five residential properties in and around Toronto yielded a large amount of money. The exact net proceeds of these sales is somewhat unclear, from the record on the Rowbotham Application, but it was millions of dollars. He used this money, in part, to pay his legal fees in Hamilton. He also advanced substantial amounts, in the form of shareholder loans, to Millard Properties Inc. (Millard owns 50% of the shares of the company and he is the sole heir to the other 50% of the shares which are held by the Estate of Wayne Millard). That privately held company used these funds loaned by Millard to pay off its substantial debt to the Royal Bank, which then allowed the company to sell its main asset, a large modern airport hangar, unencumbered, for $4.8 million in April 2015. In essence, what Millard did between 2013 and 2015, after he was charged with the Bosma murder, was convert his substantial personal real estate holdings into debt, owed to him by Millard Properties Inc., and into cash that he used for legal fees.
Code also notes:

  • Counsel for the Attorney General took the position, on the Rowbotham Application, that Millard had not accounted for all of the proceeds of his various asset sales, both personal and corporate.
In fact, after the Rowbotham hearing, it suddenly came to light that there was an extra sum of almost $1 million sitting around that no one had so much as mentioned before:
  • As it turned out, the subsequent Commercial List proceedings before Hainey J. concluded that significant additional proceeds of the airport hangar sale were also available, although depleted somewhat in the two years since the asset sale (some $800,000 to $900,000 were being held by Millard’s mother, his Attorney for Property, in her capacity as Estate Trustee for Wayne Millard’s estate, of which Millard is the sole beneficiary
I really think the only conclusion that can be reached is that we have no idea how much money DEllen and Wayne's estate control. And I don't understand why people are so quick to conclude it's nothing.

You’re right, we don’t know everything about DMs or WMs personal financial situation. If what I wrote appeared to elude to the financial situation of all three, DM, WM and Millardair were one and the same, that was definitely not my intent. The assets and debts of two parties and one business would never be interconnected in any legal proceedings. In your examples I wonder if you’re thinking it’s all more or less blended together?

Maybe this might make more sense —

Millardair was an incorporated company - that means it’s a seperate legal entity. It ceased operations Dec, 2012 and it’s asset, the hanger, wasn’t sold until June 2015, meaning for 2 1/2 years it was defunct, non-operational, not generating any income. When that happens banks call their loans, the company is forced into bankruptcy and a receiver is appointed.

So it’s highly possible for Millardair to filed for bankruptcy, DM to have repaid the business loans that he guaranteed through sale of real estate* in order to liquidate the business debt.....and indeed, after all that DM and his father’s estate each could still have maintained a net worth of millions.. I’m not disputing that whatsoever. (although iirc a witness testified that WM mortgaged the family home to keep the company afloat, generally an good indication that spare cash wasn’t available).

* Why the sale of real estate? Because in Canada, Land Titles is one of the few assets that’s identified simply through a public record search.
 
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You’re right, we don’t know everything about DMs or WMs personal financial situation. If what I wrote appeared to elude to the financial situation of all three, DM, WM and Millardair were one and the same, that was definitely not my intent. The assets and debts of two parties and one business would never be interconnected in any legal proceedings. In your examples I wonder if you’re thinking it’s all more or less blended together?

Maybe this might make more sense —

Millardair was an incorporated company - that means it’s a seperate legal entity. It ceased operations Dec, 2012 and it’s asset, the hanger, wasn’t sold until June 2015, meaning for 2 1/2 years it was defunct, non-operational, not generating any income. When that happens banks call their loans, the company is forced into bankruptcy and a receiver is appointed.

So it’s highly possible for Millardair to filed for bankruptcy, DM to have repaid the business loans that he guaranteed through sale of real estate* in order to liquidate the business debt.....and indeed, after all that DM and his father’s estate each could still have maintained a net worth of millions.. I’m not disputing that whatsoever. (although iirc a witness testified that WM mortgaged the family home to keep the company afloat, generally an good indication that spare cash wasn’t available).

* Why the sale of real estate? Because in Canada, Land Titles is one of the few assets that’s identified simply through a public record search.

The Crown had a forensic accountant at the Rowbotham hearing. He did not know how much DM had. The estimate was $2 million to as much as several times that. This accountant had way more information than we do.

Again, there was no bankruptcy. If there had been it would have been mentioned in the commercial court, the Legal Aid application and the Rowbotham hearing. It's a key piece of information.

The relationship between Millardair and Millard Properties was not made clear at the Rowbotham hearing. Even Millard said he didn't understand it. But certainly Millard Properties was an ongoing operation as of a year ago, paying Madeleine Burns, Lisa Williams and Robert Kozlowski quite generously for keeping what was essentially a shell company running.

As for Wayne taking out a mortgage on his home, he probably did although we saw no evidence just heard second-hand testimony and heard his son's account to police. So, yes, you're right he could have been desperate for cash. But I also know many people who use their Toronto homes as ATMs and would never dream of touching other investments.

The bottom line is that, like the forensic accountant and the receivers (who missed almost $1 million under MB's care), we just don't know.
 
The Crown had a forensic accountant at the Rowbotham hearing. He did not know how much DM had. The estimate was $2 million to as much as several times that. This accountant had way more information than we do.

Again, there was no bankruptcy. If there had been it would have been mentioned in the commercial court, the Legal Aid application and the Rowbotham hearing. It's a key piece of information.

The relationship between Millardair and Millard Properties was not made clear at the Rowbotham hearing. Even Millard said he didn't understand it. But certainly Millard Properties was an ongoing operation as of a year ago, paying Madeleine Burns, Lisa Williams and Robert Kozlowski quite generously for keeping what was essentially a shell company running.

As for Wayne taking out a mortgage on his home, he probably did although we saw no evidence just heard second-hand testimony and heard his son's account to police. So, yes, you're right he could have been desperate for cash. But I also know many people who use their Toronto homes as ATMs and would never dream of touching other investments.

The bottom line is that, like the forensic accountant and the receivers (who missed almost $1 million under MB's care), we just don't know.

I can’t think of one reason why Millardairs financial situation would ever be discussed at a Rowbotham hearing to determine if DM personally qualified for legal aid.....unless his 50% share in the business was his sole asset, highly unlikely.

As for Millard Properties, I don’t recall ever knowing what the business involved.

Regardless, I think we’ve exhausted our opinions:)
 
How federal prisons operate in Canada I think is rather weird but I suppose it’s because our entire system is based on rehabilitation not punishment. It’s only recently that a few criminals including DM have been sentenced longer than 25 years but so far nothing has changed in how prisons operate. The focus is on helping inmates to develop skills in order to eventually re-enter society.

I have a relative who works in a federal prison and the first time they attempted to explain how prisons worked, I admit I was flabbergasted, I had no idea. Or maybe watched too many movies. Inmates don’t bring in money from the outside. Prisons are run much like little communities where inmates get paid to either work or further their education, then they pay expenses including rent and other obligations plus buy basic necessities or treats from the canteen. They also partipate in leisure events, supervised outings, social events, weddings and other celebrations. (Of course, anyone who refuses to cooperate doesn’t get evicted, I suppose they get a free ride instead .)

Much to my chagrin, I’d say it appears prisoners might have it better than many poor or homeless folk who face daily struggles amidst the outside world:-(

But to answer your question, my opinion only, I don’t think the extent of ones personal wealth makes a great deal of difference while incarcerated, especially if one is sentenced to decades as it wouldn’t be directly accessible by the inmate.

All JMO

This is how money is managed inside a prison -
Offender’s Money

Thanks for that! I don’t see that it would matter how much money one has on the outside when incarcerated for 50+ years. He likely still has hope he’s getting out in his twisted mind. It was reported that one of DM’s trials cost more than $1M. Considering the 3 trials, and with his pending appeals, I imagine anything left will be going just to pay his legal fees. What a waste of all that money. It’s all so unbelievable, really.
 
I can’t think of one reason why Millardairs financial situation would ever be discussed at a Rowbotham hearing to determine if DM personally qualified for legal aid.....unless his 50% share in the business was his sole asset, highly unlikely.

As for Millard Properties, I don’t recall ever knowing what the business involved.

Regardless, I think we’ve exhausted our opinions:)
That there was no bankruptcy is not an opinion, it’s a fact.
 
Thanks for that! I don’t see that it would matter how much money one has on the outside when incarcerated for 50+ years. He likely still has hope he’s getting out in his twisted mind. It was reported that one of DM’s trials cost more than $1M. Considering the 3 trials, and with his pending appeals, I imagine anything left will be going just to pay his legal fees. What a waste of all that money. It’s all so unbelievable, really.
It matters how much money he has because he’s being sued.

One million is very high for one trial. Wonder how much ended up in Paradkar’s pocket.
 
It has been my understanding all along that the monies were put under the care and control of an independent party to ensure that DM (or his cohorts) didn't spend it before determining if it even belongs to him, and/or spend it before a judgement was determined in the civil lawsuit against DM. After WM died, it was discussed at the TB trial that MB had actually provided services from the hanger to earn revenue (I forget what it was she had been doing - renting space to small aircraft or something?). I believe that was more revenues than had ever been collected while WM was even alive? The below link downloads a PDF about the receivership.

https://www.google.com/url?sa=t&rct...3-2015-2.pdf&usg=AOvVaw2sp1L5WzqDuRo1YV-CKo5F

"On the 13th day of November, 2015, Zeifman Partners Inc. became the
Receiver in respect of the property, assets and undertakings ( collectively, the "Property") of Dellen Millard (the "Debtor"), that is described below: ....
....
"Zeifman Partners Inc. became a Receiver by virtue of being appointed by Order of the Honourable Mr. Justice Newbould of the Ontario Superior Court of Justice (the "Court Order") as issued on November 13, 2015.
....
"The intended plan of action of the Receiver during the receivership, to the extent that such a plan has been determined, is to ensure that assets are preserved and protected pending resolution of legal proceedings."
-----

"Courts appoint receivers to take custody, manage, and preserve money or property that is subject to litigation so that when the final judgment is rendered, the property remains available to accomplish what has been ordered. The power to appoint a receiver is rarely utilized by the courts, and only upon a showing that it is required to preserve the property. Receivership cannot properly be used to coerce a party or to gain control of a business from someone who is capable of managing it. Receivership is an extraordinary remedy, designed to benefit everyone involved. It is, however, a harsh remedy, since it involves restraining an individual's property, removing it from his control, and causing additional legal expenses.

"The appointment of a receiver, which is a provisional remedy to be exercised while litigation is pending, is ordinarily prescribed by statute, as are a receiver's powers. Ordinarily a receiver can be appointed only after a lawsuit is initiated."

receiver
 
It matters how much money he has because he’s being sued.

One million is very high for one trial. Wonder how much ended up in Paradkar’s pocket.
Wasn't there some report of DM trying to get his mother to mortgage her house for some investment?
 
It has been my understanding all along that the monies were put under the care and control of an independent party to ensure that DM (or his cohorts) didn't spend it before determining if it even belongs to him, and/or spend it before a judgement was determined in the civil lawsuit against DM. After WM died, it was discussed at the TB trial that MB had actually provided services from the hanger to earn revenue (I forget what it was she had been doing - renting space to small aircraft or something?). I believe that was more revenues than had ever been collected while WM was even alive? The below link downloads a PDF about the receivership.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=7&cad=rja&uact=8&ved=2ahUKEwi4l_n517HcAhWM5IMKHUG1BBgQFjAGegQIBhAC&url=https://www.zeifmans.ca/wp-content/uploads/2016/07/Notice-and-Statement-of-Receiver-Nov-23-2015-2.pdf&usg=AOvVaw2sp1L5WzqDuRo1YV-CKo5F

"On the 13th day of November, 2015, Zeifman Partners Inc. became the
Receiver in respect of the property, assets and undertakings ( collectively, the "Property") of Dellen Millard (the "Debtor"), that is described below: ....
....
"Zeifman Partners Inc. became a Receiver by virtue of being appointed by Order of the Honourable Mr. Justice Newbould of the Ontario Superior Court of Justice (the "Court Order") as issued on November 13, 2015.
....
"The intended plan of action of the Receiver during the receivership, to the extent that such a plan has been determined, is to ensure that assets are preserved and protected pending resolution of legal proceedings."
-----

"Courts appoint receivers to take custody, manage, and preserve money or property that is subject to litigation so that when the final judgment is rendered, the property remains available to accomplish what has been ordered. The power to appoint a receiver is rarely utilized by the courts, and only upon a showing that it is required to preserve the property. Receivership cannot properly be used to coerce a party or to gain control of a business from someone who is capable of managing it. Receivership is an extraordinary remedy, designed to benefit everyone involved. It is, however, a harsh remedy, since it involves restraining an individual's property, removing it from his control, and causing additional legal expenses.

"The appointment of a receiver, which is a provisional remedy to be exercised while litigation is pending, is ordinarily prescribed by statute, as are a receiver's powers. Ordinarily a receiver can be appointed only after a lawsuit is initiated."

receiver

Thanks for listing. I’m surprised DM has virtually no other assets or property aside from what’s already known, according to the disclosure.
 
Thanks for listing. I’m surprised DM has virtually no other assets or property aside from what’s already known, according to the disclosure.
By the time that was done however, DM had handed over POA to his mother, who had liquidated all of his properties (that is my understanding anyway), and as aBro mentioned, nobody knows what happened to all of that money...... which makes it no surprise that the courts had to appoint a receiver to ensure that same wouldn't happen to these other assets?
 
By the time that was done however, DM had handed over POA to his mother, who had liquidated all of his properties (that is my understanding anyway), and as aBro mentioned, nobody knows what happened to all of that money...... which makes it no surprise that the courts had to appoint a receiver to ensure that same wouldn't happen to these other assets?

The article I referenced earlier regarded Millardiar only, not DM personally. Here DM is declaring a Millardair $4 million shareholder loan after paying its debt through personal property sales (according to MSM report that I linked earlier ). But via DMs disclosure Millardair is given a value of $1 so other than through the promissory note, it is left with no assets. And nothing is mentioned about a value WM’s Estate whatsoever.

If there's other assets, it appears they were unknown at that time. Because the document indicates, between the contingent liabilities (pending civil suits) and the tax debt, DM has significantly more debt than ability to pay.
 
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https://www.zeifmans.ca/wp-content/...e-and-Statement-of-Receiver-Nov-23-2015-2.pdf
Notice at the top of the document relating to DM it reads:
Notice and Statement of the Receiver
(Section 245(1) and Section 246(1) of the Bankruptcy and Insolvency Act)


Specifically the content of the Acts referenced -

Receiver to give notice
  • 245 (1) A receiver shall, as soon as possible and not later than ten days after becoming a receiver, by appointment or otherwise, in respect of property of an insolvent person or a bankrupt, send a notice of that fact, in the prescribed form and manner, to the Superintendent, accompanied by the prescribed fee, and
    • (a) in the case of a bankrupt, to the trustee; or

    • (b) in the case of an insolvent person, to the insolvent person and to all creditors of the insolvent person that the receiver, after making reasonable efforts, has ascertained.
Receiver’s statement
  • 246 (1) A receiver shall, forthwith after taking possession or control, whichever occurs first, of property of an insolvent person or a bankrupt, prepare a statement containing the prescribed information relating to the receivership, and shall forthwith provide a copy thereof to the Superintendent and
    • (a) to the insolvent person or the trustee (in the case of a bankrupt); and

    • (b) to any creditor of the insolvent person or the bankrupt who requests a copy at any time up to six months after the end of the receivership.

      Bankruptcy and Insolvency Act
 
I'm obviously not a bankruptcy trustee, lawyer, or forensic accountant.. and this is WAY over my head, but all I can suggest is that in Canada's Bankruptcy and Insolvency Act, it defines an 'insolvent person' as someone who is *not* bankrupt, but whose liabilities to secured creditors amount to $1000 or more (the secured loan to MB), AND whose total assets are not sufficient to cover payment of all obligations present and accruing (the TB lawsuit of $14million) - would that mean he is an insolvent person?

I'm not going to stake my life on it, because as mentioned above, I had only understood that the courts had locked up DM's monies and assets because:
i)he'd been charged with murdering someone from whom he had already inherited monies, which is not allowed by law; and
ii)he was being sued for millions of dollars.

I was not aware that one *had* to be either a bankrupt or an 'insolvent person' in order for the courts to order receivership, and I'm still not convinced that that is the case.

The document from Zeifman could simply be stating that the same formalities are being followed as are required for a bankrupt or insolvent person, as outlined in the Act, by giving notice to the appropriate parties?

from the Act:
insolvent person means a person who is not bankrupt and who resides, carries on business or has property in Canada, whose liabilities to creditors provable as claims under this Act amount to one thousand dollars, and

  • (a) who is for any reason unable to meet his obligations as they generally become due,
  • (b) who has ceased paying his current obligations in the ordinary course of business as they generally become due, or
  • (c) the aggregate of whose property is not, at a fair valuation, sufficient, or, if disposed of at a fairly conducted sale under legal process, would not be sufficient to enable payment of all his obligations, due and accruing due; (personne insolvable)
 
Wasn't there some report of DM trying to get his mother to mortgage her house for some investment?
I think that was when DM was under the gun to 'close' the deal on his new condo in Toronto's Distillery District - he was trying to get the money from his mom so that he could close the deal and get his mortgage? (closed May 7, 2013 according to the articles below, and then had it for sale within 2 months)
Who is Dellen Millard, the accused in the Tim Bosma case? | CBC News

Dellen Millard’s mother sells family home
 
Complicated indeed and several factors pertaining to DM still unknown aside from the financial aspect, including the verdict of this trial and outcome of appeal of LB trial which I don’t think has been ruled upon yet.

If it’s true DM paid $1.2 million for legal representation in the TB trial, considering all, legal fees alone would eventually deplete his entire estate whether he inherits anything from his father’s estate or not.

Here’s a huge wealth of information contained within numerous court documents and proceedings related to Millard, both past and recent.
CanLII - Canadian Legal Information Institute

The five Millard residential properties are also mentioned several times therefore the court is aware of their sale, leaving a paper trail for the court to follow if it has cause to. If other money was secreted away, it’d likely be discovered elsewhere. But as WM wouldn’t have predicted his death, why borrow at the 11th hour if there was readily available cash on hand? Just my personal view, the MRO venture proved to be such a huge financial disaster that it directly resulted in WM’s death - either a motive for murder or a result of suicide.

Perhaps due to the prior bankruptcy, Millard Properties was established. I notice it was Millard Properties involved in the new hanger venture and the RBC loan was indeed guarantees by DM and his father. But Millardair is also mentioned as a seperate company currently involved in receivership proceedings, so how WMs and DMs business matters were arranged and seperated is unknown.
“...Even though MillardAir filed for bankruptcy in 1990, the family continued to operate an aircraft servicing and maintenance company at Toronto's Pearson International Airport for the next two decades...”
Wayward son

@ deugirtni - In general the difference between a insolvency and bankruptcy - both provide protection from creditors but regarding bankruptcy, the court authorizes certain debts to be written off (although not all types of debts are dischargeable). Common examples of debt write offs are unsecured debt such as income tax (CRA), bank loans with insufficient security and shareholders loans.

In the case of filing for Insolvency, it may prevent eventual bankruptcy if all parties can mutually agree to some method of repayment, albeit often pennies on the dollar, as opposed to getting nothing. Sometimes that’s a preferred for a company that chooses to continue operating its business as opposed to its liquidation. Either way, an eventual conclusion is reached and what that is here, we don’t know as it’s not yet been finalized. JMO.
 
I think that was when DM was under the gun to 'close' the deal on his new condo in Toronto's Distillery District - he was trying to get the money from his mom so that he could close the deal and get his mortgage? (closed May 7, 2013 according to the articles below, and then had it for sale within 2 months)
Who is Dellen Millard, the accused in the Tim Bosma case? | CBC News

Dellen Millard’s mother sells family home
If he he was as flush as people say, he wouldn't have needed to do that.
 
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