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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Medical Facilities Corporation Completes Conversion to Traditional Common Share Structure

2011

Areas Banking and Finance Law, Corporate Finance and Securities, Litigation, REITs and Income Securities, Tax

Summary

Goodmans represented Medical Facilities Corporation ("Medical Facilities") in connection with its conversion on May 31, 2011 to a traditional common share structure. The Conversion was approved at an annual and special meeting of common shareholders and a special meeting of subordinated noteholders held on May 13, 2011, and the Supreme Court of British Columbia approved the plan of arrangement to effect the Conversion on May 24, 2011. Under the Conversion, each outstanding income participating security (or IPS) was effectively exchanged for one new common share (the "New Common Shares") on a one-for-one basis. The Corporation’s 7.50% convertible secured debentures due April 30, 2013 (the "Debentures") which were convertible into IPSs at a conversion price of $13.10 per Debenture prior to the Conversion, are now convertible into New Common Shares at the same conversion price. Effective June 1, 2011, the New Common Shares were listed and posted for trading on the Toronto Stock Exchange under the symbol "DR". Medical Facilities owns controlling interests in four specialty surgical hospitals, located in South Dakota and Oklahoma, as well as an ambulatory surgery center in California.