Canadian Pacific Ltd. Sept. 28 received the Final Order from Court of Queen's Bench of Alberta approving the corporation's reorganization plan.
With the order in hand, CP officials now believe the company's plan of arrangement will become effective Oct. 1, creating five independent publicly traded companies, including Canadian Pacific Railway.
Under Canada Business Corporations Act, a plan of arrangement is a statutory procedure — requiring Court of Queen's Bench approval — that's frequently used in transactions of this nature.
Source: Progressive Railroading Daily News
