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| Definition Of: |
Deemed Trust
A trust that is established by statute to be in effect even though there may not be any actual asset or monies held in that trust. For example, Revenue Canada in a bankruptcy or insolvency situation takes the position that it has a deemed trust covering source deductions that they claim rank even ahead of certain secured creditors.
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Canadian Insolvency Dictionary INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 A: Page 1 of 3.
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