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Brandon Ament
Brandon Ament,
Category: Canada Business Law
Satisfied Customers: 25
Experience:  Lawyer at Brandon M. Ament, Barrister & Solicitor
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CBCA stipulates pre-exemptive right. If articles of

Customer Question

CBCA stipulates pre-exemptive right. If articles of incorporation dose not include preemptive right provision nor is shareholder agreement there, will a judge in Canada agree that right is still existant in case of shareholder dispute. There is one class of common share and one class of preferred share and only common shares are issued.
Submitted: 10 months ago.
Category: Canada Business Law
Expert:  Brandon Ament replied 10 months ago.

Hi Tony,

Is the corporation federal? Are you a current shareholder?

Customer: replied 10 months ago.
for both.
Expert:  Brandon Ament replied 10 months ago.

Pre-emptive rights are a clause used in shareholders agreements to guard against possible future dilution. You will need to contact a lawyer in person for a face to face meeting if you want an opinion on whether or not there is current case law that addresses this issue when there isn't a shareholders agreement.

What province are you in? I can provide you with the contact information for the provincial law society in your area.

Expert:  Brandon Ament replied 10 months ago.

Please let me know if you have any further questions or require the number for the law society in your province. If my answer was of assistance please provide me with a positive rating.

Thank you,

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