Getting the Deal Through (Canada Chapter) – Private Equity 2019 – Fund Formation
A limited partnership is typically used for private equity funds in Canada. This allows ‘flow-through’ treatment for investors (ie, income tax is not paid at the partnership level). Limited partnerships are formed provincially and, to be created, a declaration must be filed in the applicable province. However, they do not have a separate legal personality.
A Canadian limited partnership is, similar to most other jurisdictions, a partnership with passive investors (limited partners) and a general partner who is charged with the management and operation of the business for the partnership and has unlimited liability for all of the obligations of the limited partnership. Limited partner investors do not take part in the management of the fund and are only liable to the extent of the amount they contribute or agree to contribute.
For the full report, download the Canadian Chapter of Getting the Deal Through – Private Equity 2019 – Fund Formation
Insights (5 Posts)View More
Introducing Bill 185, the Cutting Red Tape to Build More Homes Act, and an Update on the New Provincial Planning Statement
On April 10, 2024, Ontario’s provincial government introduced new legislation in its quest to “cut red tape”, speed up government processes, and meet its goal.
Consumer-Driven Banking is (almost) Here! Highlights from Budget 2024
On April 16, the Government of Canada released its 2024 budget which includes the promise of new legislation this spring to implement open banking in Canada.
Ontario Employers Beware: Common Termination Language Held Unenforceable
Ontario's Superior Court of Justice found that a termination clause was unenforceable because it gave the employer discretion to terminate "at any time".
Warning For Businesses: Companies Can be Liable for Tort of Bribery Even if They Did Not Intend to Pay or Receive a Bribe
Businesses with a duty to provide impartial advice must take steps to ensure the payments they make or receive are not later interpreted as bribes.
Storm Clouds Looming: The Impact of Competition Act Changes on Leasing
The Affordable Housing and Groceries Act (Bill C-56) recently introduced changes to the Competition Act (Canada) which will govern all landlord and tenant leases and other agreements, not just those of grocery stores
Get updates delivered right to your inbox. You can unsubscribe at any time.