Chris Trivisonno

The applicant, as estate trustee, brought an oppression application alleging breach of fiduciary duties and corporate opportunity appropriation by the individual respondents concerning the "Greystar" transaction and mismanagement of Di Battista Gambin Developments Limited (DBG).

The court found that the individual respondents breached their fiduciary duties and statutory obligations under the OBCA by appropriating a corporate opportunity (Markham property) for Greystar's benefit and engaging in self-dealing through a $3 million mortgage from DBG to Greystar without proper disclosure or shareholder approval.

The directors also abdicated their responsibilities, leading to an unjustified accumulation of cash.

The court concluded that the conduct was oppressive and unfairly prejudicial, warranting a remedy of either winding-up DBG and Whitwood or a buy-out of the applicant's interests by the DiBattista respondents at fair market value, along with an accounting of benefits from the Greystar transaction.