Oppression: Divisional Court Upholds Liquidation to Resolve Shareholder Dispute
Basegmez v. Akman, 2018 ONSC 812 Recently, the Divisional Court upheld a decision by Lederman J., whereby the court ordered the liquidation of a closely held corporation after finding that one of the shareholders acted oppressively; in other words, in a manner that was unfairly prejudicial to the other shareholders. Tarn Financial Corporation was founded […]
Corporate Record Keeping Requirements
So you decided to incorporate, and hopefully you used a lawyer to help you through the incorporation process. Provided that you did use a lawyer to incorporate, your lawyer will have prepared the following documentation for your corporation’s “minute book”: Articles and by-laws of the corporation; Initial set-up resolutions, which typically confirm such matters as: share […]
The termination of tenancy by a landlord for personal or family use
Has your landlord terminated your tenancy agreement because he/she or one their children wants to move into the property? Or have you evicted a tenant because you or a family member needs a place to live? This past fall, the Rental Fairness Act, 2017 (RFA) came into force, which amended the Residential Tenancies Act, 2006 (RTA) and one […]
Slip And Fall Injuries
Winter has arrived and that means walking can be treacherous when sidewalks, roadways, and stairs are covered in snow and ice. Slips and falls can occur at any time of the year due to wet surfaces, poorly constructed steps, uneven sidewalks, and improperly maintained floors, but winter inevitably sees a spike in these types of […]
Higher wages, more vacation, more protected leave – what’s not to like?
On November 22, 2017, the Ontario government passed the Fair Workplaces, Better Jobs Act, 2017. According to its summary, these changes were brought about because of a recognition that the economy is changing and many workers struggle to support their families on part-time, contract or minimum-wage work, and many more don’t have access to time […]
New Canadian Anti-Spam Legislation (CASL) Rules in Effect as of July 1, 2017
If you work in electronic marketing in Canada, you are probably aware of and abide by Canadian Anti-Spam Legislation (CASL). If CASL has been relevant to how you carry on business, be advised that July 1, 2017 marks the end of a transition period by which you may have to make some changes to your […]
Not-for-Profit Corporations: It May be Time for You to Transition!
If you are a federal not-for-profit corporation that was incorporated under the Canada Corporations Act, Part II (the “CCA Part II”) and you have not yet transitioned to the new federal not-for-profit legislation – the Canada Not-for-profit Corporations Act, S.C. 2009, c. 23 (the “NFP Act”) – it is now time to do so. Corporations […]
Is Your Promissory Note A Security?
Many small businesses regularly use promissory notes, such as when they are borrowing money or when they are paying suppliers. Most small business owners never think about whether their promissory notes are securities. However, the issue is far from clear-cut and can have significant consequences. Under the Ontario Securities Act (Act), a “security” is defined […]
Terminations During the Probationary Period: Three Common Assumptions
Many employers like to take the first few months of a new employee’s employment to decide whether their new hire is the right addition to the team. Some like to call it a probation, others, a trial or evaluation period. Irrespective of what it is called I have noticed three recurring assumptions about this initial […]