Decision in brief: Mithaq, Transactional Proceeding, Intervenor Motion, December 20, 2023

Citation and CanLII link

Mithaq Canada Inc (Re), 2023 ONCMT 51

Arbitres
Timothy Moseley
Date des motifs:
Numéro de dossier:
2023-28
Type d'audience:
Motion
Candidats / Répondants :
Mithaq Canada Inc., Aimia Inc. and Toronto Stock Exchange

Mithaq Canada Inc. has offered to buy all the shares of Aimia Inc. that it does not already own. Mithaq is Aimia’s largest common shareholder. Mithaq asks that the Tribunal make orders about a financing announced by Aimia. Aimia announced that it would issue new securities, including Aimia shares and rights to buy Aimia shares from Aimia, to a group of investors. Mithaq says that the financing is meant to block Mithaq’s offer and is improper.

Eagle 1250 Investment Group LLC (an investor in the financing) and the Special Committee of Aimia’s board of directors want to participate in the proceeding

The Tribunal decided that Eagle and the Special Committee may participate in the proceeding. They each have a substantial interest in the outcome. Each may bring a unique viewpoint. Their participation will not cause delay and will not disadvantage the other parties.

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