RE: Really Interesting- scanning through
"While the CBCA and some provincial corporate laws grant the
court such powers in insolvency situations, this is not the case for the other provinces
where, as in Québec, the court cannot bypass the shareholder consent required to approve
a capital reorganization affecting them."
Touche. In Quebec and only for CBCA. Why did I think Quebec would do anything the same way as the rest of Canada? :>)
I will give you that point but it is a moot one. If the shareholders derailed a CBCA action in Quebec all that would happen is it would move to CCAA action. It still leaves the shareholders powerless in deciding the outcome.