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Court of Appeal rules energy regulator can restrict a utility's dividends

  • Stikeman Elliott LLP
  • -
  • Canada
  • -
  • May 17 2010

In a decision released on April 20, 2010, the Ontario Court of Appeal reinstated an Ontario Energy Board (OEB) decision that required Toronto Hydro-Electric System Limited (THESL) to obtain the approval of a majority of its independent directors before declaring a dividend