What is the most prominent case on the corporate veil in Ontario?

One of the most prominent cases in Ontario on the corporate veil is the Supreme Court of Canada decision in BCE Inc. v. 1976 Debentureholders, which was decided in 2008. The case involved the proposed buyout of BCE Inc. by a group of investors. The debentureholders argued that the transaction would result in a breach of their rights, and sought to have the court intervene. The court considered whether BCE was a “person” under the terms of the trust indenture governing the debentures, and concluded that it was. In doing so, the court considered the factors that should be taken into account when determining whether the corporate veil should be pierced, including the extent to which the company is under the control of another entity, the degree of separation between the company and its shareholders, and the degree of risk associated with the transaction. Ultimately, the court declined to pierce the corporate veil in this case. If you have any questions about this case, please contact us at info@falconlawyers.ca or 1-877-892-7778.

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