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Both the Bankruptcy and Insolvency Act ("BIA") and the Companies' Creditors Arrangement Act ("CCAA") (collectively, the "Acts") were recently amended.

The deadline for social companies with share capital currently incorporated under the Ontario Corporations Act (the “OCA”) to continue under one of three other acts expires on October 18. A quick search suggests that there are still more than 60 such companies that have failed to do so. In addition, it appears that an additional 154 such companies are listed as “inactive” on the Ontario Business Registry. We are not able to determine the basis on which these companies are so categorized, and if any of them are still in operation and own property.

Shareholder engagement is a key tool in a board's toolkit to prepare for and respond to potential activist investor campaigns.

When the directors of a corporation are deadlocked about an issue, can the chairperson have a second or casting vote?

The Toronto Stock Exchange (TSX) announced on February 13, 2014, amendments (Amendments) to the TSX Company Manual (Manual) mandating majority voting.

Getting rid of an absent, undedicated, or counterproductive director is a delicate task, especially when he or she has a number of years left on their term.

Major amendments to the "Environment Quality Act" (the EQA) which came into force on November 4, 2011 significantly increase the amounts of the fines that may be imposed pursuant thereto.

Back in 2017, CCPartners blogged about a Summary Appeal decision in which a sentence of a $500,000 corporate fine and jail sentences for the two directors was overturned.

On December 2, 2014, the Ontario Court of Appeal issued its decision in the case of Orr v. Metropolitan Toronto Condominium Corporation No. 1056.

The COVID-19 crisis continues to spread around the world and its impact has been felt in all parts of the global economy. It has also raised a host of legal issues that regulators

Many business people are familiar with the corporate director role and the powers granted to someone in the role.

A board meeting package contains all the needed documents and reports that will be discussed, or used to guide discussions, in an upcoming board meeting.

The federal government introduced Bill C-97 on April 8 to implement measures announced in its 2019 budget. The key measures affecting CBCA companies include:

The Alberta Government made these changes pursuant to the Red Tape Reduction Implementation Act, 2020.

In the ongoing effort to attract highly qualified individuals to act as directors and officers, indemnification agreements have increasingly become a common way for Canadian public companies to supplement the protections typically afforded to their directors and officers by director and officer liability insurance (D&O insurance) and bylaw indemnification rights.

On April 13, 2023, the Canadian Securities Administrators (the CSA) served up for comment two alternative approaches to updating diversity and director nomination process...

In Shefsky v. California Gold Mining Inc., the Alberta Court of Appeal (Court) upheld the chambers judge's decision and dismissed the appeal of Martin Shefsky in a fight for control of the board...

The directors of a company have an obligation to act honestly and in good faith in the best interest of the corporation (see Section 134(1)(a) of the Ontario Business Corporations Act) (OBCA).