Brandon Barnes Trickett

The appellant, Shiu Yiu Kong, appealed the dismissal of his application for an oppression remedy under the OBCA and CBCA.

The Court of Appeal found no error in the application judge’s consideration of the statutory provisions, legal principles, or factual findings.

The court held that the appellant’s criticisms of the companies’ books and records did not amount to oppressive conduct, especially as the supporting evidence was inadmissible opinion evidence.

The real dispute was over the price and method of share purchase, which did not warrant court intervention.

The appeal was dismissed, and costs were awarded to the respondents.

The plaintiff, Mr. Im, and the defendants (BMO InvestorLine Inc./Bank of Montreal and CIBC Investor Services Inc./Canadian Imperial Bank of Commerce) each brought motions for summary judgment regarding Mr. Im's allegations of improper trade prohibitions in his investment accounts.

Mr. Im claimed damages for malice, misrepresentation, breach of fiduciary duty, negligence, emotional distress, and forfeited profits.

The court found that the financial institutions did not owe fiduciary duties to Mr. Im, did not breach their contractual obligations, were not negligent, and did not engage in intentional infliction of emotional suffering, injurious falsehood, or conspiracy.

The court granted leave to amend the pleading to substitute CIBC ISI for CIBC for the limitations defence but ultimately dismissed Mr. Im's claims on their merits.

Mr. Im's motion for summary judgment was dismissed, and the defendants' motions for summary judgment were granted, resulting in the dismissal of all of Mr. Im's claims.