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Successfully represented the members of a special committee of directors in a case resulting from a takeover bid

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Confidential Client

Successfully represented the former members of the independent committee of the Boralex Power Income Fund in response to an action for damages brought by the O’Leary Funds, former unitholders in the Boralex Power Income Fund. The action arose out of the acquisition of the Boralex Power Income Fund by Boralex Inc. in the context of a takeover bid. The plaintiffs were seeking damages, challenging the sale process followed by the independent committee and claiming that the transaction by which Boralex Inc. acquired the units that had not been tendered in response to the takeover bid was illegal.
By judgment dated March 2, 2018, the Honourable Marie-Anne Paquette, of the Superior Court, dismissed the plaintiffs’ action. She concluded that the process followed was legal and thorough and was carried out in compliance with the trust agreement governing the Boralex Power Income Fund.



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