Anja Perc

The court dismissed the plaintiffs' claims against the defendants for breach of contract, breach of fiduciary duty, and related economic torts arising from the formation of Icon Plumbing and the departure of key personnel from Riva Plumbing.

The court found that the plaintiffs failed to prove that the defendants competed unlawfully, misused confidential information, or caused any compensable loss.

The counterclaim for unpaid bonuses by Mike Ladisa and Joseph Ferrari was allowed, with damages awarded in the agreed amount plus interest.

This decision addresses an application for oppression remedies under the Canada Business Corporations Act, brought by majority shareholders against minority shareholders, alleging fraud and prejudicial conduct related to a property acquisition.

The applicants sought declarations of wrongdoing, removal of directors, and cancellation of shares.

The court found material facts in dispute, including the applicants' knowledge of a "finder's fee" or "flip" profit, and serious allegations of threats.

Given the complexity, credibility issues, and the significant value of the shares at stake, the court converted the application into an action for a full trial with viva voce evidence, reserving costs to the trial judge.