Legal proceedings disclosure is a standard, recurring item in the annual information form and related continuous disclosure filings of a reporting issuer. It reports whether the issuer, or a subsidiary, is party to any legal proceeding material to its business, and, where applicable, describes the nature and status of that proceeding. This article is the wiki's plain-language rendering of that disclosure item; the authoritative statement for a specific reporting period is the applicable filing on SEDAR+ or the equivalent registry in the applicable jurisdiction.

Standard disclosure statement

As of the last-edited date of this article, Woodfine Capital Projects Inc. and its subsidiaries are not party to any legal proceeding that management considers material to the business, financial condition, or operations of the company. This statement covers pending proceedings known to management as of the date above; it does not extend to matters arising after that date, which would be reported through the material change reporting process described in Material Change Reporting and reflected here at the next scheduled review.

What counts as a material legal proceeding

Not every legal dispute a company or its subsidiaries encounters rises to the level of a disclosable material legal proceeding. The disclosure threshold generally applies to proceedings that, individually or in aggregate, could have a significant effect on the company's financial position, its ability to operate an asset, or its reputation with investors and counterparties. Routine matters — a contractor payment dispute of ordinary magnitude, a tenant default proceeding handled in the normal course of property management — are not ordinarily disclosed as material legal proceedings unless their scale or outcome would reasonably be expected to affect an investor's assessment of the company.

Review cycle

Legal proceedings disclosure is reviewed and updated each reporting period, consistent with the annual reporting cycle and the quarterly interim reporting cycle applicable to a reporting issuer. A change in status — the initiation of a new material proceeding, or the resolution of an existing one — is reflected in this article at the next scheduled review, and, where the change meets the materiality threshold for a material change report, through the immediate disclosure process that applies to material changes generally.

Scope across jurisdictions

Because the Direct-Hold Solutions operate across Canada, the United States, Spain, and Mexico, legal proceedings disclosure covers proceedings arising in any of the four jurisdictions in which the company or a Direct-Hold Solution operates, not solely proceedings filed in the company's jurisdiction of incorporation.

See also

• Material Contracts — the parallel AIF disclosure item for significant agreements
• Material Change Reporting — the immediate disclosure process for material developments
• Statutory Rights — investor rights relevant to disclosure accuracy