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The court refused to approve a liquidator’s proposed sales process for 0081092 B.C. Ltd. because the evidence was too sparse to assess fairness and price optimization.
The court held that the respondents had not rebutted the presumption of prejudice to the applicant from an adjournment and that both parties faced potential prejudice; accordingly the court conditionally granted an adjournment only on strict terms: respondents to pay one half of the cost of expediting transcripts; the matter tentatively set for specific dates between April 2 and May 16, 2012 contingent on another trial not proceeding; and alternative dates to be fixed within six months, with the court to revisit the issue if those dates could not be fixed.
Source excerpt
Deadlocked shareholders sought winding up or a buyout of Dell Holdings Ltd. The court ordered a shot-gun sale, with an independent manager pending completion.
The court approved Francisco Gold Corp.’s plan of arrangement, finding the disclosure adequate and the proposal fair and reasonable, and it refused an adjournment.
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