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2.Court-ordered
Liquidation, Dissolution and Winding-up
•Under the CNCA,
if any act or omission, conduct of the
activities or affairs of a corporation or any of its affiliates, or the exercise of the powers of the directors are oppressive, unfairly prejudicial to or unfairly disregard the interests of any shareholder, creditor, director, officer or member, or causes such a result, the court may order a winding-up of the corporation
•Under the ONCA,
similar language is used, except it does not
allow for oppressive behaviour as grounds for winding-up
•Under the CNCA,
the court may not order a wind-up if the
corporation is a “religious corporation” (see below)
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