The Court-appointed liquidator of Morrison Laurier Mortgage Corporation sought approval for the sale of the Corporation's last non-cash asset, an office building.
The motion was opposed by a preferred shareholder who proposed an alternative transaction involving share redemption.
The court granted the liquidator's motion, affirming the deference owed to a liquidator's business judgment and the integrity of the court-approved sales process.
The court found the alternative proposal was not properly submitted within the process and lacked sufficient detail and financial backing.
