International Corporate Rescue
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Vol 18 (2021) - Issue 1
Article preview
Peaks and Valleys: MEC’s Struggle to Survive in a Hostile Retail Market
Kevin Lambie, Associate, Financial Services Group, and Daniel Carlson, Articling Student, BLG, Toronto, CanadaSynopsis
On 28 October 2020, the Supreme Court of British Columbia (the 'Court') released its written reasons for previously allowing the board of directors (the 'Board') of Mountain Equipment Co-operative ('MEC') to proceed with a sale of the co-operative despite pushback from some stakeholders (the 'MEC Decision'). Notwithstanding the transaction's completion, a community group of members of MEC, with the support of several public interest groups, has sought leave to navigate uncharted terrain at the Court of Appeal for British Columbia.
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