2 total
Application for simultaneous hearing with Québec regulator regarding take-over bid dismissed to promote regulatory harmonization.
Mercer International Inc. applied to the Ontario Securities Commission for a simultaneous hearing with the Québec Bureau de décision et de révision to consider whether AbitibiBowater's take-over bid for Fibrek Inc. should be cease traded.
The Commission acknowledged it had jurisdiction to hear the application, as Fibrek is a reporting issuer in Ontario and the bid affected Ontario shareholders.
However, the Commission declined to exercise its jurisdiction, noting that the Bureau was already seized of the matter, the applicable securities laws were substantially similar, and a simultaneous hearing would not advance the harmonization and co-ordination of securities regulatory regimes.
The application was dismissed.
Applicant deemed to no longer be a reporting issuer under securities legislation.
The Applicant, Congress Financial Capital Company, applied for a decision under the securities legislation of multiple jurisdictions that it is no longer a reporting issuer.
The Decision Maker found that the Applicant met the requirements, including having fewer than 51 security holders in Canada and no securities traded on a marketplace.
The application was granted, and the Applicant was deemed to no longer be a reporting issuer.
