The Litigator

THE LITIGATOR

Commentary on Law Affecting Business

The Litigator
AGM :: Affleck Greene McMurtry LLP

THE LITIGATOR

Affleck Greene McMurtry LLP
365 Bay Street, Suite 200  ·  Toronto, Canada
416 360 2800  ·  info@agmlawyers.com  ·  www.thelitigator.ca

oppression


 

Business judgment rule does not trump unanimous shareholders’ agreement

Directors of a corporation cannot invoke the business judgment rule to justify decisions that violate a unanimous shareholders’ agreement, the Ontario Divisional Court held recently. [more] Full article

Oppression does not guarantee relief

In Hu v. Sung, Superior Court Justice David Brown confronted the question of what to do when a shareholder in a private corporation has wrongfully excluded another from the affairs of the company, but by the time of trial the company has ceased operations, has not turned a profit and there is no evidence the offending shareholder personally benefited from the oppression. [more] Full article

Recent Ontario cases highlight the scope of the oppression remedy – and its limitations

While the corporate oppression remedy is a broad remedy that can provide relief to a wide range of shareholders and certain other stakeholders harmed when a corporation is run contrary to their reasonable expectations, it will not provide relief to arm’s length contracting parties who later find that their contract does not give them the protection they want. [more] Full article

Court of Appeal overturns supervising judge’s ‘pre-emptive strike’ against Stelco directors

In late March, the Ontario Court of Appeal overturned the decision of Mr. Justice Farley to remove two new directors of steelmaker, Stelco Inc., during its restructuring under the Companies’ ... [more] Full article