In Wells v. Bioniche Life Sciences Inc., a group of
dissident shareholders attempted to gain control of Bioniche Life
Sciences Inc. (the "Company") by requisitioning a
shareholders' meeting to replace the Company's management.
Bioniche's Board of Directors resisted the Dissidents, and the
parties eventually came before Justice D. M. Brown of the Ontario
Superior Court of Justice to have him determine several issues
relating to a shareholder's right to requisition or call
meetings under s. 143 of the Canadian Business Corporations
Act. An article summarizing Justice's Brown's
findings and analyzing the practical implications of the decision
was recently published in the Commercial Litigation and
Arbitration Review by Rahool Agarwal, an associate at Norton
Rose Fulbright and a member of its Special Situations Team. A
copy of the article can be accessed
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As a construction company that actively bids and works on larger infrastructure projects, you will likely be required to provide a signed certification in response to future Requests for Qualifications.
On November 14, 2016, the Securities and Exchange Commission ("SEC") announced an award of more than $20 million to a whistleblower who promptly provided the regulator with valuable information that allowed the SEC to commence an enforcement action against the wrongdoers before they could squander the money.
In the recent decision, 3716724 Canada Inc. v Carleton Condominium Corporation No. 375, the Ontario Court of Appeal found that the "business judgment rule" applies to decisions of boards of condominium corporations.
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