Shareholder docs should be available in French, English: Deliscar

Posted on: July 6th, 2016 by Suzanne Deliscar Add A Comment

Complaints that documents related to the sale of Canadian-based Rona Inc. to U.S. retailer Lowe’s Companies Inc. weren’t translated into French for shareholders highlights a compliance issue around language, Brampton lawyer-linguist Suzanne Deliscar.

“The whole issue came down to the fact that the documents related to the buyout should’ve been translated so they were made available for shareholders in both French and English,” she tells AdvocateDaily.com. “Shareholders need to know what they are reading.”

An article in the French publication Droit-Inc notes that all documents related to shareholders should have been properly translated into French and made available by March 31 for an important meeting of shareholders in which they agreed to the sale of the company. In Quebec, article 40.1 of the Loi sur les valeurs mobilières requires that all continuous disclosure documents such as the circular shall be created in French, or in French and English.

The problem with the Rona and Lowe’s transaction was the documents were only provided in English for the meeting, Deliscar says.

Read more here: http://www.advocatedaily.com/suzanne-deliscar-shareholder-docs-should-be-available-in-french-english-deliscar.html

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