Report, Capital Trust Corporation Ltd to Custodian of Enemy Property, September 19, 1940

Report of Capital Trust Corporation Ltd to Custodian of Enemy Property, September 19, 1940, regarding the property and assets of internee Giuseppe Costantini, two pages.

Capital Trust Corporation Ltd was an agent employed by the Custodian of Enemy Property (CEP), a branch of the Canadian government that oversaw the administration of assets belonging to internees and other enemy aliens. The government office served a dual function. Acting as a trustee for the internee/enemy alien, the office and its agents also protected the interests of the creditors. The CEP would pay off an internee’s debts by selling his or her property or businesses. It also collected money owed to internees by others. Each accounting firm hired by the CEP would bill an internee for administrative costs even though internees did not ask for the CEP to be involved.

In this case, it seems the CEP agent acted to divest Costantini of his interests in the Preston Hotel. Although the agent reports that Costantini did not own the property, they do acknowledge he had a partnership in the hotel business based on the property. However, they only seem to value that partnership in terms of cash assets held in the bank account and the hotel "chattels" (the tangible property). The intangible interest in the business is not acknowledged.