2 total
Cross-motion to strike affidavit paragraphs dismissed as the statements were relevant to discoverability and not tendered for their truth.
The proposed defendant brought a cross-motion to strike paragraphs from an affidavit filed by the plaintiff in support of an unopposed motion to amend its statement of claim.
The moving party argued the paragraphs contained inadmissible hearsay and were scandalous and an abuse of process.
The court dismissed the cross-motion, finding that the statements were not tendered for the truth of their contents but to explain when the plaintiff discovered its claim against the moving party for limitation purposes.
The court also noted that since the amendment motion was unopposed, leaving the affidavit intact would not prejudice the moving party.
Shareholder's urgent bid to adjourn AGM dismissed; statutory notice requirements met.
The applicant, a hedge fund shareholder, brought an urgent application under section 248 of the OBCA seeking to adjourn the respondent corporation's annual general and special meeting of shareholders and to reset the record date.
The applicant alleged the notice was non-compliant with the OBCA and that the board acted oppressively by setting a timeline that effectively prevented shareholders from nominating an alternative slate of directors.
The court found that the respondent was not an "offering corporation" and had met all statutory notice requirements under sections 95(4) and 96(1) of the OBCA.
The court held that the notice procedures followed past practice and did not breach the reasonable expectations of shareholders as established in BCE Inc. v. 1976 Debentureholders.
The application was dismissed with costs of $75,000 to the respondent.
