On April 30, 2009, Langlois Kronström Desjardins was in the forefront of the BCE Symposium held by the Canadian Bar Association – Quebec Division. Gerry Apostolatos, a partner of the firm, both organized the event and presented a compelling presentation as one of the main speakers. He was also the moderator for the first panel, which dealt with the duties of corporate directors in change of control situations.

The BCE decision of the Supreme Court of Canada tackled the issue of whether (and to what extent) the interests of debentureholders should be taken into account in the context of a public corporation’s change of control. Purely from a monetary standpoint, this was the most important litigation in Canada in the last year. The decision clarifies the law in matters of the oppression remedy, and with respect to the nature of the fiduciary obligations of directors and the criteria that must be satisfied to obtain the judicial approval of plans of arrangement in accordance with the Canada Business Corporations Act.

Raynold Langlois, Q.C., CIRC, FACTL, Ad. E., and Gerry Apostolatos represented an intervening shareholder before the Supreme Court of Canada.

Langlois Kronström Desjardins is proud of the excellent work done by Gerry Apostolatos who contributed to the exceptional quality and remarkable success of this event, which was of great interest to public and private corporations, their directors and shareholders, as well as creditors and other interested groups.