Assets of company subject to executions

Assets of company subject to executions

341 (1) Nothing in this Act restricts or prohibits any of the following transactions: (a) the sale under execution of any property of a company; (b) the creation of any lien, mortgage, hypothec, charge or other security on the property of the company, or of any prior claim or right of retention within the meaning of the Civil Code of Québec or any other statute of Quebec with respect to property of the company; (c) the sale, elsewhere than in Quebec, under an order of a court of any property of the company to enforce or realize on any lien, mortgage, charge or other security on the property of the company; (d) the sale, in Quebec, under an order of a court or by judicial authority, of any property of the company to enforce or realize on any hypothec, charge or other security on the property of the company; and (e) the exercise of remedies for the enforcement and realization of any prior claim referred to in paragraph (b) or the exercise of any right of retention referred to in that paragraph. (2) A transaction mentioned in subsection (1) in respect of any property of a company is subject to the same laws to which it would be subject if the work and undertaking of the company were a local work or undertaking in the province in which that property is situated.