The Nova Scotia government has clarified how incorporated entities can meet both their statutory meeting obligations and abide by pandemic-related public health orders.
Tudor Sales Ltd. (Re), 2017 BCSC 119 is a case from British Columbia that dealt with whether shareholder loans, as a non-arm’s length transaction, are properly characterized as debt, or as equity.
Gray Aqua Group of Companies, Re is a case from New Brunswick that dealt with the remedy of substantive consolidation under the Bankruptcy and Insolvency Act (BIA). Historically, courts have shown reluctance in granting consolidation and it was seen as an extraordinary remedy.
Several Canadian securities regulators, including those in Nova Scotia and New Brunswick, have been busy formulating a structure to make it possible to purchase and sell securities through crowdfunding.