Canada seeks court order to force sale of stake in Calgary lithium firm

The Canadian government is taking legal action to force Gator Capital Ltd. to sell its $34-million stake in Lithium Chile Inc. The stake was purchased from a Chinese company, which the government previously deemed a national security risk. Gator Capital has not cooperated with government requests for information about its ownership and ties to foreign entities. The government claims Gator lacks a legitimate corporate presence in Canada, with only a rented mailbox listed as its address. The Attorney General seeks to have Gator's shares transferred to a trustee or to obtain information about the investment. The move follows a divestment order against the previous Chinese owner due to national security concerns.