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ARTICLE · 17 AUGUST 2022

Alberta Is Open For Corporate Reorganizations

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As discussed in our previous insight, Additional Changes to Alberta's Business Corporations Act Now in Effect, several changes to the Business Corporations Act...

CanadaCorporate/Commercial Law
Denise D. Bright
Denise D. Bright
Mike Theroux
Mike Theroux
Kelsey Meyer
Kelsey Meyer
Graham Cook
Graham Cook
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As discussed in our previous insight, Additional Changes to Alberta's Business Corporations Act Now in Effect, several changes to the Business Corporations Act (Alberta) (ABCA) came into force on May 31, 2022 (the Amendments). Among other things, the Amendments afford more flexibility to Alberta corporations in organizing their affairs, including by expanding court discretion and eliminating a number of the previous statutory requirements in relation to plans of arrangement. The purpose of the amendments is to facilitate doing business in Alberta.

Plan of Arrangement Provisions Before the Amendments

A plan of arrangement is a court supervised and approved procedure (governed by the applicable corporate statute, such as the ABCA), under which corporations may complete various transactions, including mergers and acquisitions, reorganizations and restructurings.

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