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This paper examines Canadian and other foreign firms that have been involuntarily delisted from major U.S. exchanges. I find that, for most countries, less than 10% of firms get delisted from a U.S. exchange during my sample period. For Canada, more than 25% of firms listed in the United States...
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Mergers and plans of arrangements where shareholders of the acquiror company were not afforded a vote used to be very … without consulting their shareholders because neither corporate nor securities law required shareholders' approval for such … Toronto Stock Exchange Company Manual (TSX Manual) became effective. The new rule requires shareholders' approval when the …
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In Canadian tax law, directors may face liability for a corporation's failure to withhold or remit certain tax and payroll amounts. To escape liability, directors can invoke the due diligence defence by demonstrating that they acted with the care, diligence, and skill of a "reasonably prudent...
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