3 ms·
If the CCPC has >50% resident Canadians as directors, how does that protect the buyer - what prevents the directors from deciding that the assets are to be used
by toss1 5y ago
If the CCPC has >50% resident Canadians as directors, how does that protect the buyer - what prevents the directors from deciding that the assets are to be used for their benefit instead of the foreign investor(s) funding the corp? Can the CPPC have different voting rights, or the ability to remove directors and undo prior actions?
But yes, this does look like a loophole through which one could easily drive a building...