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Info-CRAC December 2015

CRAC summary report for 2015

Dear Friends,

Can you believe that we are already in the heart of December?

They say time flies when you’re having fun and I confirm, that for us, this has definitely been the case. Add to that the continuous string of exciting developments, and this year has gone by lightning fast.

Prior to celebrating our first anniversary with ESC, we relocated our downtown offices to the Plateau Mont-Royal. We are now settled in and our team is perfectly positioned to offer you the very best.

In operations, we have extended our due diligence services, increased our presence in several congresses and events, implemented an unbeatable pricing policy for our corporate accessories. We have also established an advantageous rewards program for both our clients and various charities and concluded a major partnership with AJBR (Association des Jeunes Barreaux de Région).

For these reasons, I am extremely pleased to announce that our 2015 summary report is greatly positive. I am also very proud and impressed at the evolution that has occurred during the past year, at various levels, for each member of our team. I take this opportunity to thank each of my colleagues for their excellent work.

What can we expect in 2016? Although we cannot disclose all our news at this time, we guarantee several major announcements throughout the coming year! For now, we can already tell you that we have revised our price list for our due diligence services. You can find more details about this in the article that follows.

In closing, I want to mention that the most important part of the year-end summary is knowing that once again, and for over 35 years, you put your trust in us! For this I thank you and extend my most sincere appreciation to you.

The CRAC team joins me in wishing you a Happy Holiday season with much health, peace and love for the New Year.

Best regards,


Our holiday gift: Reducing our fees for all due diligence services

Just in time to start the New Year in a great way, we are pleased to provide you with a new price list for our due diligence services across Canada (PPSA / RDPRM, court searches, title searches, Bank Act, etc.). While prices tend to rise early in the year, we decided to reduce ours as our gift to you.

Why reduce our prices? Simply because we listened! You told us that using our due diligence services saves you time, you appreciate our speedy processing delays and that you value our expertise. However, you have also told us that our prices in due diligence are too high. So we have remedied the situation!

Please refer to the attached list for information on our new due diligence rates and the various services we are able to provide you with. Note that these rates apply as of today!

For more information, please contact Kelly Cardoso at kcardoso@crac.com or 514-861-2799 / 1 800-361-5744, extension 3290.

Holiday Closings Schedule

You will find below the holiday closings for the offices of the Québec Enterprise Registrar (“REQ”), Revenue Québec (“MRQ”), Corporations Canada and CRAC:

DateREQ and MRQCorporations CanadaCRAC
Thursday, December 24 ClosedOpen Open until noon
Friday, December 25ClosedClosedClosed
Monday, December 28ClosedClosedClosed
Tuesday, December 29Open Open Open
Wednesday, December 30Open Open Open
Thursday, December 31ClosedOpen Open until 3:00 p.m.
Friday, January 1, 2016ClosedClosedClosed
Monday, January 4, 2016ClosedOpen Open

To obtain a certificate bearing a date between December 24 and December 28, 2015, we must receive your documents by Thursday, December 24, before 10:30 a.m. at the latest.

The same also applies to users of our online system, Incoweb®.

If you need a certificate to bear the date of December 31, 2015 or January 1, 2016, we must receive your documents by Thursday, December 31, before 3:00 p.m. at the latest.

Incoweb® users must do the same for documents transmitted to our attention online.

Please do not forget to specify the required date in your cover letter or on the articles, as the case may be. We will tend to your special requests regarding your documents and remain available for any questions that you may have.

IMPORTANT: Please note that the above is not applicable for Certificates of Attestation. Contact Kelly Cardoso (Ext. 3290) at 514-861-2799 / 1 800-361-5744 or by email at kcardoso@crac.com if you need to obtain a specific date on your Certificates of Attestation.

Best wishes and Happy Holidays from of all of us at CRAC!

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SOQUIJ’s Caselaw Selection

Non-competition clause: The defendants were not parties to an independent contractor agreement that included a non-competition clause; nevertheless, under a safeguard order, they will have to abstain from participating in or encouraging its violation.

The full text of the judgment is available here

Intellectual property: While the Copyright Board was right to find that the activity of making broadcast- incidental copies calls into question reproduction rights, it erred by failing to consider the principles of technological neutrality and the proper balance to determine the value of the license required.

The full text of the judgment is available here

Business: The trial judge did not err by personally and jointly condemning the directors of a corporation to pay restitution in the amounts of $648,310 to a shareholder as they played a predominant role in the latter’s oppression.

The full text of the judgment is available here

Business: Article 317 C.C.Q. permits the corporate veil to be lifted not only between a corporation and its shareholder, but also between two separate corporations.

The full text of the judgment is available here

Business: The plaintiffs, who received their shares through an employee bonus program, cannot demand that the call option exercised by the corporation just before selling its assets take place under terms other than those agreed to, just to benefit from the significant proceeds received by the majority shareholder from that sale.

The full text of the judgment is available here