NS Legislative Report, Fall Sitting – Update October 16

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The Beginning of the End of Corporate Ownership Confidentiality in...

It appears 2024 will include an unwelcome surprise for many business owners in Canada – public disclosure of their ownership interests in corporations. If you own federally-incorporated corporations, the agenda this fall should include a review to prepare for compliance. Canada Business Corporations Act Since 2017, Canada and the provinces, including Newfoundland and Labrador, have […]

Amendments Affecting All Newfoundland and Labrador Corporations

In November, the House of Assembly of Newfoundland and Labrador passed Bill 24, which set out amendments to the province’s Corporations Act (the “Act”). The amendments, which come into force 1 April 2022, are notable and require attention as they will impose new obligations upon most corporations incorporated in the province. In summary, the amendments: […]

Unoppressed: Newfoundland and Labrador Supreme Court Denies Claim for Oppression...

An oppression remedy is a statutory remedy that courts can apply when the conduct of a corporation or its directors is found to be prejudicial or harmful to the interests of a specific stakeholder of the corporation (i.e., shareholders, officers, directors, creditors, etc.). In rectifying the oppression, courts will consider the reasonable expectations of the […]