Is Meditrust permitted to continue to pursue a consolidated merger of two of its subsidiaries?
Prince Edward Island, Canada
The following excerpt is from CMT et al. v. Government of PEI et al., 2019 PESC 40 (CanLII):
Meditrust submits that, because it was at the apex of a single economic entity, the rule in Foss v. Harbottle does not preclude it from maintaining this action. Meditrust points out that it completely controlled the subsidiaries, that its control of them was augmented by the unanimous shareholders' agreement, and was reflected in the consolidated financial statements for the business.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
What is the test for merger in real estate law? (Prince Edward Island, Canada)
Can estoppel prevent a litigant from pursuing a cause of action that was or should have been subject to a previous proceeding? (Prince Edward Island, Canada)
Does a recusal made for the expressed reason of avoiding perception of bias affect subsequent return to involvement in the performance of the statutory function? (Prince Edward Island, Canada)
What is the standard of care required by the courts to determine negligent conduct? (Prince Edward Island, Canada)
What is the duty of a plaintiff to mitigate? (Prince Edward Island, Canada)
What is the legal test for an application to vacate a judgment by a judge? (Prince Edward Island, Canada)
What is the applicable standard of care in medical malpractice cases? (Prince Edward Island, Canada)
What is the test for merger in real estate law? (Prince Edward Island, Canada)
What is the effect of the draft audit on CASP's Master Plan? (Prince Edward Island, Canada)
What is the test for a variation of a support order? (Prince Edward Island, Canada)
