While 2019 to date has witnessed fewer proxy contests in Canada
compared with the corresponding period in 2018, activity increased
in some industries, notably the resource sector, to levels not seen
since 2015. We have also observed a number of important
developments, including some that may be indicative of broader
trends in proxy contest strategy. Two key developments in 2019 that
we discuss in this chapter were the increased public involvement of
institutional shareholders in contested situations and an uptick in
activists' use of universal proxies. This year, market
participants also received the long-awaited regulatory response to
concerns about the use of soliciting dealer fees (or "vote
buying") in proxy contests, which we review. We also discuss a
recent decision of the B.C. Supreme Court, affirming that
controversies relating to proxies should be resolved in favour of
facilitating shareholders' right to vote. We round out our
discussion with some practical
