With respect to the knowing receipt claim, Justice Horkins held that the claim disclosed a reasonable cause of action, as it pled the existence of a trust, a breach of that trust, constructive knowledge of the breach of trust on the part of BMO (knowledge of facts sufficient to put a reasonable person on notice or inquiry of the breach of trust), and the receipt of trust property by BMO for its own use and benefit by way of service fees associated with the impugned transactions. (thelitigator.ca)