The applicant, a minority shareholder in a family-owned commercial real estate corporation, brought an oppression application against the majority shareholder and the corporation.
The applicant alleged oppression regarding the provision of financial information, the triggering of a shotgun buy-sell clause while the application was pending, and improper disbursements made to the majority shareholder.
The court found no oppression regarding the information provision or the shotgun clause, concluding the applicant was not entitled to an additional sum for her shares beyond the designated price.
However, the court found the majority shareholder's receipt of improper disbursements was oppressive and ordered an equalization payment of $154,717 to the applicant.
