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A done deal undone


Lawyer Neill May
Area Corporate Finance and Securities


Article originally published in the Canadian Lawyer Magazine, June 2017

Excerpt from "A done deal undone":

Those types of logic challenges have been raised in the recent proxy battle for Eco Oro Minerals Corp. The recent decisions in the dispute rendered by the Ontario Securities Commission (itself reviewing a decision of the Toronto Stock Exchange) and the British Columbia Supreme Court may shed some light on how so-called tactical private placements will fare under regulatory or judicial scrutiny. The dispute has been a law school exam of topical issues in Canadian M&A, including: how securities regulators will treat tactical private placements generally, how those regulators might deal with a placement that has been approved by the stock exchange and implemented and how the courts and securities regulators might deal with different aspects of the same dispute. There are a lot of questions; it’s like a special Jeopardy episode devoted to securities law that would probably drop a lot of viewers after the first commercial break.

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