Alternative Energy Partners Inc (AEGY)

[1manband]

There is no law against one company buying two dying companies

No, there isn't. But there are securities regulations that will prohibit such a company from remaining (or obtaining) a Canadian stock exchange listing. They Canadians do not accept companies (or assets, or insiders) under SEC investigation. They also do not accept toxic death spiral issuers (which AEGY most certainly is), and they do not accept issuers under cease-trade orders in Canada (which is also AEGY).

Any one of the three issues alone would disqualify them from a Canadian Exchange listing.