In a CCAA proceeding, the applicant Fund brought a motion to amend the Amended Discharge and Dissolution Order to facilitate a final distribution to shareholders.
The Fund's transfer agent brought a cross-motion seeking a third-party release from liability related to the distribution, arguing the shareholder data might be unreliable.
The court granted the Fund's motion and dismissed the cross-motion, finding that the transfer agent had not made a meaningful contribution to the restructuring and had instead delayed the process, failing to meet the established test for third-party releases.
