How Does the Court Handle Dueling Oppression Applications Between Shareholders?
The recent Superior Court decision of Leis v Lee (2021 ONSC 3683), which involved dueling oppression applications by two shareholders, provides guidance as to how the Court will handle oppression claims in a situation where two shareholders engaged in potentially oppressive conduct toward the other, and where both contributed to the disagreement between them. Background […]
Holding Annual Director and Shareholder Meetings During the COVID-19 Pandemic (updated August 14, 2020)
By law, under normal circumstances, Ontario and federally incorporated corporations and not-for-profits are required to hold a meeting of shareholders no later than 18 months after incorporation and every 15 months thereafter and no later than six months after the corporation’s most recent financial year-end. During annual meetings, shareholders typically review and discuss the corporation’s […]
Contingency Planning in Business: Are You Prepared for the Unexpected?
When you are busy building a business, planning and preparing for the unexpected may be the last task on your long to-do list. It is a task that is easy to push into the future when there are seemingly more pressing and urgent matters to manage and address. Succession and contingency planning, however, is something […]