Power of the Court to order distribution of property in money
150(1)If in the course of liquidation of a corporation the shareholders resolve or the liquidator proposes to
(a)
exchange all or substantially all of the property of the corporation for securities of another body corporate that are to be distributed to the shareholders, or
(b)
distribute all or part of the property of the corporation to the shareholders in kind,
a shareholder may apply to the Court for an order requiring the distribution of the property of the corporation to be in money.
150(2)Upon an application under subsection (1), the Court may order
(a)
all the property of the corporation to be converted into and distributed in money; or
(b)
the claims of any shareholder applying under this section to be satisfied by a distribution in money or in such manner as the Court may direct.
2023, c.2, s.110; 2023, c.2, s.155