Upon completion of the corporate reorganization, the new corporation's shareholders are trusts, holding corporations or individuals who have kept ownership of control shares. Some rules should be established to ensure the proper administration of the corporation and especially anticipate situations of purchase and sale of shares upon the death, incapacity of or dispute among shareholders.
-The minute books of the involved corporations will require a complete update to reflect the various transactions carried out under the corporate reorganization.
-The corporation's shareholder agreement must be reviewed according to these organizational changes.
-A review of the respective Wills and protection mandates in case of incapacity of each shareholder will generally be appropriate to ensure proper coordination of all the legal documentation.