At Landy Marr Kats LLP, we have acted for creditors, shareholders and directors in various types of corporate litigation. We can provide you with the sound advice and courtroom experience necessary to address your litigation requirements.
As well recognized Toronto business lawyers provide legal services for all matters in Business Law, Shareholder Disputes, Partnerships, Litigation, Corporate Law, legal and strategic expertise including mergers and acquisitions, public and private company reorganizations, major transactions, corporate governance, directors’ & officers’ duties & liabilities, disclosure and business structuring.
We can assist you in defending or launching a legal proceeding for an oppression remedy under the Ontario Business Corporations Act (“OBCA”). We can assist you seeking an injunction to restrain a party from breaching their fiduciary obligations or the terms of a shareholders’ or employment agreement.
Company Law, Shareholder Disputes, Piercing the Corporate Veil
A corporation is a legal entity in Ontario. It can sue, it can be sued, it can own property and it is required to pay taxes. People incorporate for a variety of reasons, including the sheltering of their personal assets. A corporation is run by its officers and directors, but is owned by its shareholders. In limited circumstances, directors are liable for the acts of the company.
Often two or more parties come together with their own expertise to run a business. Often the parties invest both their effort and money in an attempt to build a successful business. Sometimes, one person is the financier and acts as a silent partner, providing money to operate the business. The parties join together with the hopes of creating a successful enterprise.
Unfortunately, just like marriages that break up, business “partners” require the assistance of the law to determine how to divorce themselves from one another. In Ontario, corporations are governed by the Business Corporations Act. This Act provides shareholders, directors and even creditors of corporations with numerous rights to attempt to rectify any perceived wrongdoings. In some circumstances, it is possible for a creditor to get behind the company, and “pierce the corporate veil” to hold individuals liable for certain debts.
We would be pleased to accept your enquiries and provide counsel on your rights with respect to any aspect of business law, commercial law or corporate law to contact us click here.