Background:
BTA Real Estate Group Inc. ("BTA") opposed the discharge of Said Wassim Kaiss from bankruptcy due to actions related to the insolvency of Family Fitness Inc. (FFI), a company he solely owned and directed. BTA, FFI's landlord, held security interests over Kaiss's property. Disputes arose after FFI’s 2020 receivership, including allegations of fraudulent conveyances and asset transfers by Kaiss to related entities.

Legal Issues and Rulings:

1. Asset Transfers (Section 173(1)(c)):
   The Chambers judge found Kaiss contravened section 173(1)(c) by transferring shares in multiple companies to family members while insolvent. A 60-day discharge suspension was deemed sufficient due to mitigating factors such as the absence of material harm to creditors and Kaiss being a first-time bankrupt.

2. Vexatious Defenses (Section 173(1)(f)):
   The court agreed Kaiss’s defenses in related proceedings were vexatious and caused unnecessary expenses for BTA. However, these did not weigh significantly in extending the discharge suspension beyond 60 days.

3. Asset-to-Liability Ratio (Section 173(1)(a)):
   The court acknowledged Kaiss’s assets were insufficient to cover fifty cents on the dollar of his unsecured liabilities but found no evidence this resulted from circumstances under his control. This issue did not impact the ruling significantly.

Chambers Decision:
The court imposed a 60-day discharge suspension on Kaiss. Costs for the application were reserved for the appellate panel. No monetary awards were specified in the document.