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CBCA stipulates pre-exemptive right. If articles of

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incorporation dose not include preemptive...
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: 2 years ago.Category: Canada Business Law
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Answered in 1 hour by:
1/27/2016
Business Lawyer: Brandon Ament,
 replied 2 years ago
Brandon Ament
Category: Canada Business Law
Satisfied Customers: 25
Experience: Lawyer at Brandon M. Ament, Barrister & Solicitor
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Hi Tony,

Is the corporation federal? Are you a current shareholder?

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Customer reply replied 2 years ago
for both.
Business Lawyer: Brandon Ament,
 replied 2 years 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.

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Business Lawyer: Brandon Ament,
 replied 2 years 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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