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Directors elected by a particular class cannot be removed without consent of that class. [9] All changes in directors have to be filed with the registrar. [13] Where a company's securities are traded publicly on the Toronto Stock Exchange, from 31 December 2012, it is required to: [14] [15] elect its directors individually, as opposed to ...
BCE Inc v 1976 Debentureholders, 2008 SCC 69 (CanLII), [2008] 3 SCR 560 [2] is a leading decision of the Supreme Court of Canada on the nature of the duties of corporate directors to act in the best interests of the corporation, "viewed as a good corporate citizen".
in liquidation or in the process of being wound up, and any interested party petitions to be brought under the act, or a financial institution, which is under the control, or its assets are under the control, of the Superintendent and is the subject of an application for a winding-up order, [ 15 ]
Since Watsa took over, the company book value per share has compounded by 23% per year, [11] while the common stock price has followed the growth at 19% per year. On September 23, 2013, Fairfax made an offer to purchase cell phone maker BlackBerry for $4.7 billion or $9.00 a share. [ 12 ]
S. 70(1) of the BIA provides that bankruptcy orders and assignments take precedence over "all judicial or other attachments, garnishments, certificates having the effect of judgments, judgments, certificates of judgment, legal hypothecs of judgment creditors, executions or other process against the property of a bankrupt," [69] but that does ...
Appraisal rights under the CBCA entitle shareholders to the "fair value" of their shares, but fair value need not be identical to fair market value. [5] Amendments guaranteeing appraisal rights were first added to the CBCA in 1975; Ontario legislation had provided them at least since the 1950s. [6]
Provisions similar to s. 210 of the UK Companies Act 1948 were first introduced into Canadian law through the 1975 passage of the Canada Business Corporations Act. [1] It incorporated recommendations made in 1962 by the UK Jenkins Committee on Company Law for removing the linkage of the remedy with that of winding-up and for broadening its scope. [2]
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]