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Can you help a small company with legal advise from a

Customer Question

can you help a small company with legal advise from a tresurer running up bills
Submitted: 1 year ago.
Category: Canada Law
Customer: replied 1 year ago.
I am president of a limited alberta company I wan t to release my treasurer who has 50% shares she is buying new cars on my expense how do i remove her? my company now is more in debt than its worth
Customer: replied 1 year ago.
my treasurer needs to sign off her shares does she get half the debt if she is 50% shareholder??
Customer: replied 1 year ago.
hello?
Customer: replied 1 year ago.
does thioSearch ResultsChapter 1 - Why Should I Incorporate? - Corporations Canada
[Site popularity rank: #17,147] www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs04841.html
A corporation has the same rights and obligations under Canadian law as a ... Among other things, this means it can acquire assets, go into debt, enter into ... Limited liability ... This, in turn, allows the corporation to plan over a longer term, thereby ... Officers — A corporation's officers hold positions such as president, chief ...

The Directors - Corporations Canada
[Site popularity rank: #17,147] https://corporationscanada.ic.gc.ca/eic/site/cd-dgc.nsf/.../cs05004.html
It is then necessary to notify Corporations Canada of the change in directors by filing ... office "ex-officio" or "as of right", without the need to be elected by members). .... the board wants them to fill (e.g., president, secretary or any other position).
Chapter 1: Corporations and Directors, What, Who, Why and ...
[Site popularity rank: #17,147] https://www.ic.gc.ca/eic/site/cilp-pdci.nsf/eng/cl00691.html
The powers of a not-for-profit corporation are limited to what is written into its objects ... Incorporating a not-for-profit entity at the federal level and in most other ... to the corporation's membership to elect particular officers, such as the president. ... through distribution of income over time or through purchase of their share(s).
Canada Business Corporations Act
[Site popularity rank: #40,817] laws-lois.justice.gc.ca/eng/acts/C-44/FullText.html
“body corporate” includes a company or other body corporate wherever or ... or right to acquire securities of the corporation that granted the option or right to acquire; ... the president, a vice-president, the secretary, the treasurer, the comptroller, ... place of and represents another person including, but not limited to, a trustee, ...
Corporate Profiles – Crown Corporations
[Site popularity rank: #149,413] www.tbs-sct.gc.ca/reports-rapports/cc-se/corporate.../ccp-pse-eng.asp
Nov 18, 2014 - The corporate profiles of Crown corporations include the profile of each parent ... Air Transport Security Authority; Federal Bridge Corporation Limited, The .... The Canada Council Art Bank is a national collection of over 17,500 ... public understanding of human rights, to promote respect for others, and to ...
Guide to the Not-for-Profit Corporations Act, 2010
[Site popularity rank: #6,397] www.sse.gov.on.ca/mcs/en/Pages/onca7.aspx
Jul 28, 2014 - Members, directors, officers, administrators and others supporting existing ... The Canada Not-for-profit Corporations Act, for instance, came into effect on ... They set out the rights and responsibilities of the members, directors and officers. .... To allow members to have limited legal responsibility (liability).
Board of Directors | Postmedia Network Inc.
[Site popularity rank: #362,105] https://www.postmedia.com/governance-2/governance/
Members sit on both Postmedia Network Canada Corp. and Postmedia ... sits on the boards of Discovery Air Inc., Data Group Limited and INFOR Acquisition Corp. ... 16 years with Sun Media Corporation, eventually taking the role of President ... Ltd., Hollinger International Inc., and The Daily Telegraph (UK) among others.
[PDF]BY-LAW NUMBER 1 - TransCanada
www.transcanada.com/docs/...Us/TCPL_BylawNo1_June2008_Final.pdf
BE IT ENACTED as a by-law of TransCanada PipeLines Limited as follows: ... “Act” means the Canada Business Corporations Act and any act that may be .... executive, senior, assistant and/or other vice presidents, a corporate secretary, ... unable to act, his powers and duties shall devolve upon the vice chair, if appointed, ...
The unkillable billable hour: How Canadian corporations are...
[Site popularity rank: #9,787] business.financialpost.com/legal-post/the-unkillable-billable-hour-legal
Mar 6, 2015 - "The billable hour is a zombie," says Peter Carayiannis, president and founder ... That should spark client demands for flat fees or other pricing alternatives to ... that nearly half of Canadian companies are clinging to billable hours. ... It's odd, because corporate Canada has tremendous bargaining power.
Canadian Broadcasting Corporation - Wikipedia, the free ...
[Site popularity rank: #7] https://en.wikipedia.org/wiki/Canadian_Broadcasting_Corporation
Heather Conway, Executive Vice President, English Networks ... The Canadian Broadcasting Corporation (French: Société Radio-Canada), officially .... The CRBC took over a network of radio stations formerly set up by a federal Crown ... the CBC provided limited television service to remote and northern communities.does this work???
Customer: replied 1 year ago.
hello anyone?
Customer: replied 1 year ago.
my accountant laughed saying if she wants half...half the debt is hers....do i get that?
Customer: replied 1 year ago.
please answer me
Expert:  Legal Ease replied 1 year ago.

The reason no one answered is that you posted in the middle of the night. Secondly, one of your postd is exceedingly long and essentially illegible on the site. I'm sure it read properly when you copied and pasted it but did not copy and paste properly. It is much too long for anyone to read in any event.

It seems that your question is more simple than your post would indicate. Are you simply asking how to deal with a situation where one of the two shareholders wants to get rid of the other shareholder? If that is the question, do you have a shareholder's agreement and if so what does asay about selling shares and buying shares and buying one of the others out?

Customer: replied 1 year ago.
No agreement i know of. Just a limited company with a president and a treasurer. 50% each. And she is needing to leave the company is worth $5000 and is now $50000 in debt due to her. She wont sign her shares to me unless she gets half. Half would be $25000 in the red
Expert:  Legal Ease replied 1 year ago.

Her shares have no value because thr Corporation has no value. It would not make sense for you to have her sign her shares over to you because then you would be stuck with all of the debt.

If she has caused the bulk of the debt then it would make sense for you to retain a lawyer and have the lawyer send her a letter essentially threatening a lawsuit. She will be required to put back any money that she took from the corporation unlawfully. She will have to pay back the corporation at least for these outlandish expenses that are not legitimate corporate expenses.

Customer: replied 1 year ago.
i will not see any money from her. But she still is using my company for loans. Collateral etc. I need her off. How do i do that? My accountant is sure if she wants half she gets half the debt too. But how do i proceed? Before im bankrupt
Customer: replied 1 year ago.
She has no job now and bought a brand new car. Ill probably get a bill for payments
Expert:  Legal Ease replied 1 year ago.

You will need to retain a lawyer to assist you. You may have to go to court. And you need to do this very quickly because she's taking terrible advantage of the situation.

Customer: replied 1 year ago.
Ok. Thankyou
Customer: replied 1 year ago.
What can happen if i default on a company loan? Says i would pay legal fees and expenses. But you can force me to pay can they?
Customer: replied 1 year ago.
Would they sue me and my ex or just me if she hasnt signed off?
Expert:  Legal Ease replied 1 year ago.

You never told me that your partner was your ex.

If this is a legal marriage some of what I told you may not be able to take place. You will not likely be able to sue her civilly will need to deal with this in Family Court.

If this is corporate debt no one can come after you personally unless you signed a personal guarantee.

But this is going well off what we started with and if you want to continue on this line questions you'll have to rate me first and then start a new fresh post.

Customer: replied 1 year ago.
Ex girlfriend. Not married. One loan was td bank business loan. One from her sisters business with both out names on it. Not huge but still loans to the company i will pay td. Not sure about her sis since she would need both us in court
Expert:  Legal Ease replied 1 year ago.

Then you can sue.

You are both liable for joint personal debts or debts you both guaranteed.

Neither are personally liable for corporate debts.

Customer: replied 1 year ago.
Awesome. You da man. Or woman. Thankyou
Expert:  Legal Ease replied 1 year ago.

Thanks for the great compliment!

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