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 Income Fund. The action arose out of the acquisition of the Income Fund by Boralex Inc. following 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 deposited 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 rigorous and was carried out in compliance with the trust agreement governing the Boralex Power Income Fund.
The Court of Appeal (Doyon, Hogue and Roy JJ.A.) affirmed that judgment:
https://www.canlii.org/fr/qc/qcca/doc/2019/2019qcca84/2019qcca84.html?searchUrlHash=AAAAAQAPYm9yYWxleCBvJ2xlYXJ5AAAAAAE&resultIndex=2
The Fasken team composed of Vincent Cérat Lagana and Camille Duguay represented the former members of the Boralex Power Income Fund independent committee.
