The plaintiff, a minority shareholder, moved for an injunction to block the impending sale of the corporation's sole real estate asset to a third party.
The plaintiff had previously initiated an oppression action against the majority shareholders and directors, alleging mismanagement and conflicts of interest.
Applying the RJR-MacDonald test, the court found a serious issue to be tried regarding the propriety of the sale.
However, the court dismissed the motion because the plaintiff failed to establish irreparable harm, as any potential losses were quantifiable and could be compensated through a damages award against the directors personally.
