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Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders

Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders

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Edmonton, Alberta , June 10, 2025 (GLOBE NEWSWIRE) -- A new study from Forum Law, a leading Edmonton-based law firm, has uncovered a significant rise in civil disputes between co-founders of businesses across the region. This trend is drawing attention to the growing complexities and risks involved in startup partnerships, highlighting the need for clearer agreements and proactive legal planning.NON-FAMILY CIVIL COURT CASES INITIATED IN CANADAWhile entrepreneurship continues to thrive in Edmonton and across Canada, the increase in co-founder conflicts reveals underlying challenges that can threaten even the most promising ventures. Disputes between business partners can arise from a variety of issues including misaligned expectations, disagreements over roles and responsibilities, equity splits, and financial management. These conflicts often result in costly litigation, damaged business relationships, and even the dissolution of companies.
Key Insights from the Study
The Forum Law report analyzed recent case trends and identified several key factors contributing to the surge in co-founder disputes:
Lack of Clear Agreements: Many startups begin without formalized partnership agreements, leaving roles, decision-making processes, and equity ownership open to interpretation and disagreement.
Communication Breakdowns: Differences in vision, management style, and communication preferences often fuel misunderstandings between co-founders.
Financial Disputes: Conflicts around funding, profit distribution, and financial transparency have become common flashpoints.
Intellectual Property and Ownership Issues: Disputes over who owns business ideas, technology, or product rights are increasingly frequent.
Growth and Scaling Challenges: As startups grow, initial informal agreements may not suffice, creating friction around new roles and equity adjustments.
Legal Experts Call for Proactive Measures
'Entrepreneurship is exciting but can be fraught with unexpected challenges,' said a representative from Forum Law. 'Our study underscores how important it is for co-founders to establish clear, legally binding agreements from the outset. Doing so can prevent misunderstandings and provide a roadmap for resolving conflicts if they arise.'
The firm recommends that new business partners invest time in drafting detailed shareholder or partnership agreements, clearly defining each person's roles, equity stakes, dispute resolution methods, and exit strategies. Engaging experienced legal counsel early on can help entrepreneurs avoid pitfalls and protect their ventures.
Supporting Edmonton's Entrepreneurial Community
The rise in disputes signals an urgent need for education and support within Edmonton's growing startup ecosystem. Forum Law offers specialized legal services tailored to startups and entrepreneurs, helping them navigate the complexities of partnership law and safeguarding their businesses for long-term success.
Civil disputes among co-founders not only disrupt businesses but also impact innovation and economic growth. By raising awareness and promoting best practices, Forum Law hopes to foster stronger, more resilient business partnerships throughout Alberta.
To read the full study, visit: Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders
Alternative dispute resolution & LitigationAbout Forum Law Forum Law is a respected Edmonton-based law firm specializing in civil litigation, business law, and dispute resolution. With a commitment to practical solutions and client-focused service, the firm supports entrepreneurs, startups, and established businesses in navigating legal challenges and achieving successful outcomes.
Press inquiries
Forum Law https://www.forumlaw.ca/ Shamil Shamilov info@dnovogroup.com 1 (587) 557-5670 11835 – 149 ST Edmonton, Alberta, Canada, T5L 2J1

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Jetstar Asia closure: Some customers confused, frustrated by poor communication; Taiwan earthquake: 5.9-magnitude offshore quake rattles Taiwan: Singapore live news
Jetstar Asia closure: Some customers confused, frustrated by poor communication; Taiwan earthquake: 5.9-magnitude offshore quake rattles Taiwan: Singapore live news

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Jetstar Asia closure: Some customers confused, frustrated by poor communication; Taiwan earthquake: 5.9-magnitude offshore quake rattles Taiwan: Singapore live news

The Jetstar Asia closure has left some customers confused and frustrated over conflicting information, or a lack thereof. The Singapore-based airlines, operated by Qantas Group, announced on Wednesday (11 June) morning that it would be ceasing operations from 31 July. They added that Jetstar Asia flights would be operating with a "progressively reduced schedule". For a customer identified as Daniel, he told CNA that he didn't realise the schedule would be "progressively reduced" prior to its closure. Taiwan was struck by an earthquake on Wednesday (11 June) evening, with the quake hitting seconds after cell phone alarms went off at 7.01pm. The quake about 71 kilometres south of Hualien City. According to the United States Geological Survey, the quake had a magnitude of 5.9 and was detected at a depth of 31.1 kilometres. Taiwan's Central Weather Administration gave the magnitude as 6.4. Read more in our live blog below, including the latest local and international news and updates. Taiwan was struck by an earthquake on Wednesday (11 June) evening, with the quake hitting seconds after cell phone alarms went off at 7.01pm. The quake about 71 kilometres south of Hualien City. According to the United States Geological Survey, the quake had a magnitude of 5.9 and was detected at a depth of 31.1 kilometres. Taiwan's Central Weather Administration gave the magnitude as 6.4. However, such differences are common considering the differences in sensitivity and detector locations. Buildings in Taipei shook for about a minute, and there were no immediate reports of damage. A firefighter in Chenggong told AFP that when the quake hit, "the computer screen and fan shook heavily". He added, "It was much stronger than previous quakes. I immediately thought about running outside." For more on the Taiwan earthquake, read here. The Jetstar Asia closure has left some customers confused and frustrated over conflicting information, or a lack thereof. The Singapore-based airlines, operated by Qantas Group, announced on Wednesday (11 June) morning that it would be ceasing operations from 31 July. They added that Jetstar Asia flights would be operating with a "progressively reduced schedule". For a customer identified as Daniel, he told CNA that he didn't realise the schedule would be "progressively reduced" prior to its closure. Hence, he thought his two planned trips in July – one to Bangkok, another to Okinawa - would not be affected. On Wednesday morning, though, he received an email confirming that his trip to Bangkok was cancelled, so he made plans to book another flight. Daniel said the email also included his "specific booking reference". Yet, when his friend called the Jetstar Asia's hotline, they were told the flight was still going ahead as planned. He now feels uncertain about his flight to Okinawa and it's not clear which flights would be cut from Jetstar Asia's schedule before it closes. 'I'm wondering, when would they tell me about it? Or how late would they tell me about it?' For more on how customers are affected by the Jetstar Asia closure, read here. Taiwan was struck by an earthquake on Wednesday (11 June) evening, with the quake hitting seconds after cell phone alarms went off at 7.01pm. The quake about 71 kilometres south of Hualien City. According to the United States Geological Survey, the quake had a magnitude of 5.9 and was detected at a depth of 31.1 kilometres. Taiwan's Central Weather Administration gave the magnitude as 6.4. However, such differences are common considering the differences in sensitivity and detector locations. Buildings in Taipei shook for about a minute, and there were no immediate reports of damage. A firefighter in Chenggong told AFP that when the quake hit, "the computer screen and fan shook heavily". He added, "It was much stronger than previous quakes. I immediately thought about running outside." For more on the Taiwan earthquake, read here. The Jetstar Asia closure has left some customers confused and frustrated over conflicting information, or a lack thereof. The Singapore-based airlines, operated by Qantas Group, announced on Wednesday (11 June) morning that it would be ceasing operations from 31 July. They added that Jetstar Asia flights would be operating with a "progressively reduced schedule". For a customer identified as Daniel, he told CNA that he didn't realise the schedule would be "progressively reduced" prior to its closure. Hence, he thought his two planned trips in July – one to Bangkok, another to Okinawa - would not be affected. On Wednesday morning, though, he received an email confirming that his trip to Bangkok was cancelled, so he made plans to book another flight. Daniel said the email also included his "specific booking reference". Yet, when his friend called the Jetstar Asia's hotline, they were told the flight was still going ahead as planned. He now feels uncertain about his flight to Okinawa and it's not clear which flights would be cut from Jetstar Asia's schedule before it closes. 'I'm wondering, when would they tell me about it? Or how late would they tell me about it?' For more on how customers are affected by the Jetstar Asia closure, read here.

Currency Exchange International Reports Second Quarter 2025 Results
Currency Exchange International Reports Second Quarter 2025 Results

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Currency Exchange International Reports Second Quarter 2025 Results

TORONTO, June 11, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the 'Group' or 'CXI') (TSX: CXI; OTCQX: CURN), today reported net income of $1.98 million for the second quarter of 2025, 291% higher than the prior year (all figures are in U.S. dollars except where otherwise indicated). This 2025 reported net income reflected $2.7 million net income from continuing operations and a net loss of $0.7 million from Exchange Bank of Canada, the Company's Canadian subsidiary which was classified as discontinued operations effective the second quarter of 2025. These results include restructuring charges of $0.2 million, pre-tax, related to discontinued operations in Canada and certain one-time charges of $0.1 million, pre-tax. Excluding these items, the Group's adjusted net income1 increased by 18% compared to the prior year and adjusted diluted earnings per share1 ('EPS') was 24% higher than the prior year. The completed condensed interim consolidated financial statements and management's discussion and analysis ('MD&A') can be found on the Group's SEDAR profile at Q2, 2025 Reported Results EBITDA $4.9 million Up 10% YoY Net Income $1.98 million Up 291% YoY Diluted EPS $0.31Up 288% YoY Annualized ROE 5% Down 50% YoY Q2, 2025 Adjusted Results1 EBITDA1 $5.1 million Up 15% YoY Net Income1 $2.3 millionUp 18% YoY Diluted EPS1 $0.36 Up 24% YoY Annualized ROE1 12%Flat YoY Below is a reconciliation of reported results to adjusted results based on non-recurring items: Three-month period endedApril 30, 2025 Three-month period endedApril 30, 2024 Six-month period endedApril 30, 2025 Six-monthperiod endedApril 30, 2024 Reported results $ $ $ $ EBITDA 4,901,810 4,470,061 8,755,560 7,755,158 Group net income 1,983,025 506,522 2,795,555 1,356,397 Pre-tax adjusting items Specified item: Restructuring charges 229,404 - 229,404 - Specified item: Advisory costs* 145,452 - 425,513 - Specified item: Deferred tax assets reversal* - 1,427,600 - 1,429,850 1,427,600 654,917Impact of income tax (72,073) - (80,647) - Adjusted results** EBITDA 5,131,214 4,470,061 8,984,964 7,755,158 Group net income 2,285,808 1,934,122 3,369,825 2,786,247Group Diluted earnings per share Reported 0.31 0.08 0.44 0.21 Adjusted** 0.36 0.29 0.53 0.42 *These adjustments are reported within the results from discontinued operations. **These are non-GAAP financial measures and ratios. For further details, refer to the key performance and non-GAAP financial measures section below. Total revenue was 3% lower than the prior year due to a decline in consumer demand for foreign currency as travel activity tapered during the current quarter. Although revenue declined, the Company's net income for the second quarter rose compared to the same quarter last year, primarily due to the favorable impact of a weaker U.S. Dollar on the revaluation of foreign currency banknote holdings. The Group's capital position remained robust, and liquidity was strong with $81.2 million in total equity and $60.4 million in net working capital as of April 30, 2025 ($79.4 million and $55.9 million as of October 31, 2024, respectively). All reported amounts are based on the Group's condensed interim consolidated financial statements presented in compliance with International Accounting Standard 34 Interim Financial reporting, unless otherwise noted. On February 18, 2025, the Group announced its decision to cease the operations of its wholly owned subsidiary, Exchange Bank of Canada. This strategic decision and operational plan for restructuring were communicated to all staff of EBC on February 19, 2025. Following the cessation of operations, the Bank intends to apply to the Minister of Finance in Canada to discontinue from the Bank Act. The application to discontinue is expected to be made in the fourth quarter of 2025, with the actual discontinuance of the Bank being subject to receipt of all necessary regulatory approvals. Following the Group's decision, management has commenced implementation of the restructuring and planned discontinuance of the Bank. Management anticipates that certain operating expenses and personnel costs, that are currently shared with EBC, will be 100% borne by the continuing operations of CXI, subsequent to the exit of EBC from Canada, and the current annualized estimate of these costs is approximately $3 million after tax. In the second quarter of 2025, Exchange Bank of Canada was classified as a discontinued operation in the Group's condensed interim consolidated financial statements. On May 20, 2025, CXI upgraded its U.S. securities listing with the Company's shares commencing trading on the OTCQX Best Market under the symbol CURN. Randolph Pinna, CEO of the Group, stated, 'The second quarter showed continued growth in the payments business, while with the current political and economic uncertainties, international travel activity to and from the United States decreased banknote revenues. CXI's diversified business model in the United States allows for continued new client growth in the payments business complemented by successful multi-channel banknotes offerings for both our U.S. Financial Institutions in branch or online as well as the Direct-to-Consumer customer offerings through online, agent and physical branch locations. CXI's management team and I remain committed to executing CXI's strategic plan which is focused on revenue and earnings growth as well as the return on capital and creating value for our shareholders resulting from providing leading FX technology and transaction processing solutions'. Financial Highlights for the three-month periods ended April 30, 2025 and 2024: Revenue decreased by 3% or $0.5 million to $15.9 million compared to $16.4 million. Banknotes revenue decreased by 5% or $0.6 million over the prior period while Payments revenue increased by 5% or $0.1 million; Reported EBITDA increased by 10% or $0.4 million to $4.9 million from $4.5 million. Adjusted EBITDA2 was $5.1 million, 15% higher than the prior period; Reported Group net income was $1.98 million, a 291% increase compared to the prior period. Adjusted Group net income2 increased 18% or $0.4 million to $2.3 million from $1.9 million in the prior period; Reported earnings per share were $0.32 and $0.31 on a basic and fully diluted basis, respectively, compared to the prior year's reported earnings per share of $0.08 on both a basic and fully diluted basis. Adjusted earnings per share2 were $0.37 and $0.36 on a basic and fully diluted basis, respectively, compared to the prior year's adjusted earnings per share of $0.30 and $0.29; and The Group maintained a strong financial position, with net working capital of $60.4 million and total equity of $81.2 million as of April 30, 2025. Financial Highlights for the six-month periods ended April 30, 2025 and 2024: Revenue increased by 3% or $0.8 million to $31.3 million compared to $30.5 million. Payments revenue increased by 11% or $0.5 million and Banknotes revenue increased by 1% or $0.3 million over the prior period; Reported EBITDA increased by 13% or $1.0 million to $8.8 million from $7.8 million. Adjusted EBITDA3 was $9.0 million, 16% higher than the prior period; Reported Group net income was $2.8 million, a 106% increase compared to the prior period. Adjusted Group net income3 increased 21% or $0.6 million to $3.4 million from $2.8 million in the prior period; and Reported earnings per share were $0.45 and $0.44 on a basic and fully diluted basis, respectively, compared to the prior year's reported earnings per share of $0.21 on both a basic and fully diluted basis. Adjusted earnings per share3 $0.54 and $0.53 on a basic and fully diluted basis, respectively, compared to the prior year's adjusted earnings per share of $0.44 and $0.42. Corporate Highlights for the three-month period ended April 30, 2025: The Group continued its growth in the direct-to-consumer market through its network of company-owned branch locations, agent relationships, and in the majority of states where it operates its OnlineFX platform. During the second quarter of 2025, the Group added the State of Mississippi to its OnlineFX platform network, now operating in 45 states and the District of Columbia; The Group increased its banknotes market penetration into the financial institutions sector in the United States with the addition of 124 new clients in the second quarter of 2025; and The Group continued to grow its Payments product line benefiting from the recent investments in core banking platform integrations which enabled the Group to expand its reach and increase its volumes in the United States. The Group processed 45,788 payment transactions in the second quarter compared to 37,781 payment transactions in the prior period. Selected Financial Data The following table summarizes the performance of the Group over the last eight fiscal quarters: Results of Continuing Operations - Reported Group Net Results - Reported Group Net Results- Adjusted3 Quarterly Results Revenue Net income Earnings per share (diluted) Net income (loss) Earnings/(loss) per share (diluted) Net income Earnings per share (diluted) $ $ $ $ $ $ $ Q2 2025 15,865,150 2,674,849 0.42 1,983,025 0.31 2,285,808 0.36 Q1 2025 15,450,861 1,694,672 0.26 812,530 0.12 1,092,648 0.17 Q4 2024 18,460,390 3,313,852 0.50 (2,817,897) (0.45) 2,780,445 0.42 Q3 2024 19,961,122 5,122,815 0.77 3,935,350 0.59 4,644,984 0.69 Q2 2024 16,358,796 2,731,629 0.41 506,522 0.08 1,934,122 0.29 Q1 2024 14,141,018 2,020,274 0.30 849,874 0.13 849,874 0.13 Q4 2023 18,742,856 3,467,825 0.52 2,303,822 0.34 2,303,822 0.34 Q3 2023 19,416,155 4,650,604 0.69 4,056,478 0.60 4,056,478 0.60 Earnings Conference Call Details CXI plans to host a conference call on Thursday, June 12, 2025, at 8:30 AM (EST). To participate in or listen to the call, please dial the appropriate number: Toll Free - North America: (+1) 800 717 1738 Conference ID Number: 21262 About Currency Exchange International, Corp. Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, ('CXIFX'), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, ('OnlineFX'). Contact Information For further information please contact: Bill MitoulasInvestor Relations(416) 479-9547Email: KEY PERFORMANCE AND NON-GAAP FINANCIAL MEASURES The Group measures and evaluates its performance, as presented in this document, using a number of financial metrics and measures, such as adjusted net income, which do not have standardized meanings under generally accepted accounting principles (GAAP) and may not be comparable to other companies. The Group's management believes that these measures are more reflective of its operating results and provide the readers of this document with a better understanding of management's perspective on the performance. These measures enhance the comparability of our financial performance for the current year with the corresponding period in the prior year. For further information, including a reconciliation, refer to key performance and non-GAAP financial measures in the MD&A. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'predict', 'preliminary', 'project', 'will', 'would', and similar terms and phrases, including references to assumptions. Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group's actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group's business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group's proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled 'Risks and Uncertainties' of the Group's Management's Discussion and Analysis for the three and six-month periods ended April 30, 2025 and 2024. Forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release. 1 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document. 2 These are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this document.3 These adjusted results are non-GAAP financial measures and ratios and are not standardized financial measures under IFRS, they are based on management-determined non-recurring items. For further information, refer to the key performance and non-GAAP financial measures section on page 4 of this in to access your portfolio

VeriSilicon's AI-ISP Custom Chip Solution Enables Mass Production of Customer's Smartphones
VeriSilicon's AI-ISP Custom Chip Solution Enables Mass Production of Customer's Smartphones

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VeriSilicon's AI-ISP Custom Chip Solution Enables Mass Production of Customer's Smartphones

Providing architecture design, software-hardware co-development, and mass production support, and enhancing AI-powered imaging capabilities in smart devices SHANGHAI, June 12, 2025--(BUSINESS WIRE)--VeriSilicon ( recently announced that its AI-ISP custom chip solution has been successfully adopted in a customer's mass-produced smartphones, reaffirming the company's comprehensive one-stop custom silicon service capabilities in AI vision processing. VeriSilicon's AI-ISP custom chip solution can integrate proprietary or third-party Neural Network Processing Unit (NPU) IP and Image Signal Processing (ISP) IP. By combining traditional image processing techniques with AI algorithms, it significantly enhances image and video clarity, dynamic range, and environmental adaptability. The chip solution offers flexible configurations with RISC-V or Arm-based processors, supports MIPI image input/output interfaces, provides LPDDR5/4X memory integration capability, and is compatible with common peripheral interfaces such as UART, I2C, and SDIO. This makes the solution highly adaptable for deployment across various applications including smartphones, surveillance systems, and automotive electronics. For this collaboration, VeriSilicon designed a low-power AI-ISP system-on-chip (SoC) based on the RISC-V architecture, tailored to the customer's specific requirements. It also included a FreeRTOS real-time Software Development Kit (SDK). The customized SoC was fully optimized for seamless interoperability with the customer's main processor platform and has since been successfully deployed in multiple smart devices, achieving large-scale production. This success highlights VeriSilicon's robust capabilities in heterogeneous computing, software-hardware co-optimization, and system-level integration and verification. "AI-powered imaging has become a key differentiator in the competitive smartphone market, driving increasing demand for high-performance and low-power image processing solutions," said Wiseway Wang, Executive Vice President and General Manager of the Custom Silicon Platform Division at VeriSilicon. "With full-spectrum capabilities ranging from IP licensing and chip architecture design to system-level software and hardware development, tape-out, packaging and testing, as well as mass production, VeriSilicon offers end-to-end custom silicon services leveraging its extensive design service experience and proven mass production capabilities. The successful mass production of this customer's chip further validates our strength in high-end silicon design services. Moving forward, we will continue to innovate and improve our offerings, empowering customers to accelerate the launch of differentiated products with efficient, high-quality custom chip solutions." About VeriSilicon VeriSilicon is committed to providing customers with platform-based, all-around, one-stop custom silicon services and semiconductor IP licensing services leveraging its in-house semiconductor IP. For more information, please visit: View source version on Contacts Media Contact: press@ Sign in to access your portfolio

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