In July 2016, the Strata Property Act (British Columbia) (the “Act”) was amended in order to make it easier for strata corporations[1] to voluntarily wind themselves up using a liquidator.[2] Previously, a resolution initiating the wind-up process and appointing a liquidator required unanimous approval from the owners. Unanimous approval was, not surprisingly, rarely achieved. To address this issue, the Act was amended to provide that a resolution receiving 80% approval would suffice, provided a court subsequently confirms the resolution. Read the article…………….
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