AIMCO and CHC MPAR LP entered into a co-ownership agreement to develop a student housing project.
After the project faced zoning rejections, AIMCO and CHC independently acquired a neighbouring property without including MPAR, a 50% shareholder in the general partner.
AIMCO subsequently triggered a shotgun clause to buy out the limited partnership's interest.
MPAR opposed the buyout and applied for relief, alleging oppression, breach of fiduciary duty, and breach of contract.
The court dismissed MPAR's application, finding no oppressive conduct, fiduciary duties, or contractual breaches, as the agreements explicitly excluded obligations regarding outside business opportunities.
AIMCO's application for specific performance of the shotgun clause was granted.