Frank started Money Managers Inc., a mutual fund dealership, in 1987. Michael joined his father in 1995, and the
two shared equally in the profits of the business. In 1999, both
became licensed to sell individual securities and bonds.
 In June 2012, Frank sold Money Managers Inc. to Aligned
Capital Partners Inc. (“ACP”). Frank became a director of ACP,
and Michael became its chief financial officer. The parties thereafter carried on their investment business as an ACP branch
office. Although each had his own advisor code, the two operated
under an agency agreement between Frank and ACP.
 In 2010, Frank and Michael began making acquisitions
in order to expand and diversify their business interests. The
primary source of financing for the acquisitions was shareholder
loans made by Frank.
 In September 2010, the parties purchased a GIC business,
and a 50 per cent interest in a commercial building at 250
Queen Street, in Port Perry, from David Powell. These acquisitions were financed primarily by means of a $175,000 shareholder loan from Frank, although Tacit Accounting Ltd.
contributed $32,500 toward the purchase of the building.
 In July 2012, the parties purchased an accounting business, and the other 50 per cent interest in the Port Perry building, from Robert Gauvreau. These acquisitions were financed by
means of a $260,000 shareholder loan from Frank.
 In April 2013, the parties purchased an accounting business from Craig Hamilton. This acquisition was financed by
means of a $110,000 shareholder loan from Frank.
 In February 2014, Michael purchased an accounting business from Roger Moase, by way of a purchase of the shares of
Moase Professional Corporation. This acquisition was financed,
in part, with a $50,000 cheque from Frank to Michael.
 Following the purchase from Roger Moase, Michael
changed the name of the corporation to “Scugog Accounting Professional Corporation” (“Scugog PC”), and transferred the
accounting practice that had been purchased from Robert
Gauvreau to Scugog. The former Gauvreau practice had, until
then, been carried on by Tacit Accounting Ltd.
 In May 2014, Michael established Kawartha Accounting
Professional Corporation (“Kawartha PC”), a corporation of
which he is the sole shareholder.
 Frank and Michael had no formal business agreement.
However, prior to the breakdown in their business and professional relationships, they shared their business income evenly,