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By Brian Parker, Partner at Daoust Vukovich[1] This paper accompanies a workshop of the same name, held on Thursday, May 1, 2025, at the ICSC+ Canadian Law Conference in Toronto, Ontario. Clic...
The Forfeited Corporate Property Act (FCPA) came into force on December 10, 2016. Its enactment entails a shift in the process for dealing with the remaining property of corporations that have been dissolved.
The FCPA also amends the Business Corporations Act (Ontario) (OBCA), which is the main piece of Ontario legislation governing the incorporation, operation and dissolution of Ontario corporations. Similar amendments have been introduced through the FCPA to the Ontario Corporations Act and Not-for-Profit Corporations Act. These FCPA amendments impose new record-keeping requirements on Ontario corporations with respect to their ownership interests in real property. It appears the purpose of the amendments is to make it easier for the provincial government to locate real property owned by Ontario corporations where the property has reverted to the Crown.
Read the full article: Forfeited Corporate Property Act - Do you have a real estate register
In a prior News ReLease (Are Exclusive Covenants About to Become Extinct?, from November 29, 2023), we discussed the Competition Bureau’s Ret...
The insolvency of the Hudson’s Bay Company (“HBC”), Canada’s oldest corporation and iconic department store, is the most re...
In our February 8, 2024, News ReLease, we reported on The Canada Life Assurance Company et al. v Aphria Inc. (“Aphria”). In that case, the tenant wanted out of its lease and purported to “repudiate”, in an attempt to force the landlord to take the (office) space to market. The landlord took the position that it had no obligation to accept the tenant’s repudiation or look for a replacement tenant, and that the tenant was required to pay rent over the balance of the term.
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