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Tag: management

MICs: The Technical Aspects of a Mortgage Investment Corporation

TYPE OF ENTITY FOR A MORTGAGE INVESTMENT CORPORATIONA Canadian Corporation throughout the taxation year where its business only undertakes to invest its funds, and thereafter qualifies as a MIC, is deemed to be a public corporation under the ITA, and therefore must have its financials audited. Depending on which province your MIC is registered, it will have to comply with securities legislation in that province;Depending on which province your shareholders or investors are, it will have to comply with securities legislation in that province;TYPE OF ACTIVITY & INVESTMENT/ASSET BASEMortgages secured against real estate in CanadaMortgagors can be individuals or corporateMortgagors can be Canadian non-residents

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CONSTRUCTION LIENS: Electronically Liening Registered Leases

It would appear that when registered leases are liened electronically, adherence to the rules is not as strict, sort of relaxation of rules is practiced, as would be seen from the case history below:Petroff: Liening Registered Leases ElectronicallyRegistration of title documents electronically has made it easier for lawyers to representing lien claimants wishing to lien leasehold premises where the lease is registered on title.  Petroff Partnership Architects v. Mobius Corp is a lawsuit based on the applicability of the curative

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Construction Liens: Obtaining Liens and Restrictions Placed on Them

We have discussed earlier one of the two methods by which a contractor working for a tenant is able to get a lien on the freehold of the property.  The second method will now be discussed.The Freehold Owner Deemed  “Owner” Under the CLAWithin the meaning of the CLA, there are circumstances, when the owner of the freehold may be considered an “owner”, even if the work was performed on leased premises. The definition of “owner” given in Section 1(1) of the CLA is as follows:

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Liens and Commerical Tenants

OverviewRegardless of the fact that the individual is a landlord, a tenant, or a lien claimant, it is important for each of them to be aware of the unique issues raised when construction liens are registered against leasehold premises. Firstly, there is the need to determine for whom the construction work has been carried out, either the landlord or the tenant, and whether or not the landlord, the tenant, or both are the owner” within the meaning of the Construction Lien Act (“CLA”), R.S.O. 1990. Secondly, it is necessary to review the possibility of binding the

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COMMERCIAL LEASING: Rooftop Solar Panels

Rooftop Solar PanelsA number of landlords, owners, and tenants have recently received inquiries from rooftop solar panel installers desirous of installing solar panels on their roofs. In principle, the idea of encouraging green initiatives sounds like a good one. However, in circumstances in which the owner is not the end user of the building (it has a tenant) or is thinking of selling the building, further consideration may be required before entering into licences for solar panels.

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COMMERCIAL LEASING: All About Zoning, Renewals, and Extensions

Zoning Disputes concerning the Smartcentres have been in the spotlight for much of this past year, illustrating the significant hurdles developers face when seeking approval for a large scale, primarily retail development. The cases have shown that proposals for large scale retail developments from now on must take into account policy directives developed under a municipality’

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COMMERCIAL LEASING: All About Transfers

Involvements of matters relating to assignments are substantial in commercial leasing, as will be seen in this part of our ongoing series.Transfers In respect to assignments, important developments have taken place. This is due to the fact that courts are unwilling to permit landlords to terminate a lease when a request for a transfer is made without providing an opportunity for the tenant to withdraw its request.

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COMMERCIAL LEASING: How the Court Applies Equitable Remedies

There have been some interesting developments in commercial leasing law over the last year, among which can be seen important trends in commercial leasing jurisprudence.Equitable RemediesIt has been found in the past year that the courts will make every effort to use equitable remedies in circumstances where strict contractual interpretation leads to absurd commercial

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CORPORATE GOVERNANCE: Globalization and success will follow once the gender, racial and minority profiling is eliminated!

For long the corporate ladder has been an issue of survival of the corporate fittest, highly dominated by the white male.  So much so, that the white male is often thought of as the underlying decision maker, the one who makes the final corporate changes along with the one who delegates and sets the management positions for those who seek employment.  In perspective the white male holds all the cards with an

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CORPORATE GOVERNANCE: Even the best CEOs need to remember that its the path they pave for the future that will provide them with immortality, not their current presence!

How does one win an Oscar?  Is George Washington considered so highly as an individual because he was the first American president or because he now has the capital of the U.S named after him?  How about Abraham Lincoln, not the first American president but just as renowned.  Is it because he was the first to abolish slavery in the U.S or is it because there sits a huge statue of him in front of the parliament

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