Keeping it in the Family: A Recipe for Trouble for Corporations, a Recipe for Disaster for Expert Witnesses

Closely held corporations do not operate pursuant to a different statute than widely held corporations. Generally speaking, all corporations created pursuant to the same business corporation statute whether controlled by a sole director, officer and shareholder, a 20-member board of directors or 100 shareholders pursuant to a Unanimous Shareholders’ Agreement have the same governance obligations and responsibilities. 

Contempt and Bankruptcy: Striking the Right Balance

In its recent decision in Walchuk v Houghton, 2016 ONCA 643, the Court of Appeal for Ontario clarified the interaction between the stay provisions of the Bankruptcy and Insolvency Act (BIA) and motions for contempt of court orders.