K, a Toronto lawyer, incorporated a real estate company, Rockwell, of which he effectively owned almost all the shares. Rockwell became involved in a contractual dispute with another corporation, Newtonbrook, and eventually brought an action against Newtonbrook for specific performance of the contract. Rockwell lost the action, and Newtonbrook was awarded costs of $4800. When Newtonbrook sought to recover the costs, it found that Rockwell's entire assets consisted of $31.85 in its bank account. Now Rockwell must compensate the remaining from the personal assets.

true or false ? no explanation just ans