Farley's Reflections: Sunrise, Sunset.
Mondaq Business Briefing › Nbr. 2011, January 2011
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Summary
Ventas, Inc. v. Sunrise Senior Living Real Estate Investment Trust
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Farley's Reflections: Sunrise, Sunset.
Sunrise, sunset. Perhaps a matchmaker would have helped. The saga of the dispute between Ventas, Inc. and Health Care Property Investors, Inc. arose five years ago when Sunrise Senior Living Real Estate Investment Trust's "board of trustees determined that a strategic sale process of its assets would be beneficial to its unitholders, thus effectively putting Sunrise 'in play' on the public markets" (per Blair J.A. for the Ontario Court of Appeal) in Ventas, Inc. v. Sunrise Senior Living Real Estate Investment Trust, 2007 ONCA 205 (CanLII) at para. 2. The Court of Appeal upheld the decision of Pepall J. given two weeks earlier (2007 CanLII 8934 (ONSC)) that Sunrise was obligated to enforce the Standstill Agreement which was entered into by HCP (the unsuccessful auctio...
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