In Alberta, directors of a corporation can be held personally liable for certain debts of the corporation in the event of bankruptcy or otherwise. This is because a director has a legal responsibility to ensure that a corporation is able to pay its debts as they become due and to ensure the corporation has sufficient liquid assets to satisfy these obligations.  The liability of a director for the debts of a corporation can arise from a number of different sources,

The remedies available to stakeholders in corporate disputes for oppression are some of the most flexible remedies available at law.  Under Alberta’s Business Corporations Act (the “ABCA”), the Court may rectify any act or omission of a corporation, its affiliates, or its directors that results in conduct that is oppressive, or conduct that is unfairly prejudicial to, or that unfairly disregards the interests of, any security holder, creditor, director or officer.  The powers of the Court in these circumstances include,

As a result of Alberta’s The Red Tape Reduction Implementation Act (RTRIA), two significant changes came into force on March 26, 2021 (retroactive to August 15, 2020) that affect all Corporations created under the Alberta Business Corporations Act (ABCA): Corporations are no longer required to have 1/4 of directors be resident in Alberta, and Agents for Service must be appointed for each and every Corporation. Removal of Director Residency Requirements Before these changes came into effect, any Corporation incorporated under

Working with business partners has its benefits, but it also has its challenges. It’s not unusual for small disagreements to bubble up with a business partner when dealing with the usual day-to-day stresses of running a business. But what happens if there is a more serious break-down in communication? What if your business partner wants to take the business in a direction you disagree with? What if your business partners try to squeeze you out of the business? In this