Limited partnerships are widely used in Ontario (and other Canadian jurisdictions) and have many benefits, including limited liability for limited partners.
However, this benefit is conditional: the Ontario Limited Partnerships Act (the Ontario Act) provides that a limited partner will lose its limited liability status if “the limited partner takes part in the control of the business”. Most other Canadian jurisdictions have legislation governing limited partnerships that contains an analogous provision. Notably, jurisprudence in Ontario and elsewhere in Canada has not yet provided clarity as to what constitutes active control by a limited partner.… Continue Reading
The PE market sustained high levels of activity in 2017 and 2018 is expected to be another busy year in Canada, the US and globally. McCarthy Tétrault’s Private Equity Group explores what’s next in our latest edition of: On Target: 2018 Private Equity Outlook.
Our PE practice combines the strengths of several practice areas across the firm’s offices in Canada, New York City and London, UK. They offer deep insight derived from experience across the facets of PE, which include buy-out investments, venture capital investments, fund formation and management, fund investments, mezzanine and other leveraged debt financing, infrastructure, distressed … Continue Reading
Some interesting trends emerged from a study of select US M&A deals in 2011 that may be predictors of what’s to come in 2012. A synopsis of a study conducted by Practical Law Company was provided in a webinar in late January, entitled A Year in Review: Public M&A Trends and Highlights from 2011.
According to the study, deal volume was significantly lower in the second half of last year and on pace with 2010 levels in the first half of last year, with 48 and 49 acquisition transactions in the first and second quarters, respectively. The second … Continue Reading