It's also worth knowing about some changes that were made to the B.C. Business Corporations Act in 2003 by the Liberal government. One of the changes allows companies like Empery Software to waive the production and publication of financial statements, if there's a unanimous agreement of the shareholders to do this. Empery Software has obviously taken full advantage of this. The new Act also removed the requirement that at least one director of a company live in B.C., and that a majority of the directors live in Canada. There are now no residency requirements for directors at all. You've read about how difficult it was for me to get Empery Software into court. Imagine what it would have been like if these people lived in Hong Kong or Bermuda.
There are some additional provisions of the Business Corporations Act that make it pretty much a license to steal. I won't go into them here, but if you're interested, you can read an assessment by McCarthy Tétrault by clicking here. The changes didn't get much public attention at the time, but there is this former RCMP officer named Bruce Bowie who appeared on some talk radio shows (including Peter Warren's “Scam of the Month”) to warn people that the changes tie the hands of Revenue Canada, RCMP and those seeking civil restitution from accessing money/judgments/jail sentences from foreign registered companies. Bowie has a company called Investigative Solutions Inc. I don't have any creative ideas on what you can do about this, other than, if you're one of the people who has been burned, contact your MLA and the media.
