The applicants sought enforcement of a final arbitration award ordering the respondents to purchase the applicants’ minority shareholding in hotel development corporations for $1.15 million after findings of oppressive conduct.
The respondents requested additional time to arrange financing before enforcement.
The court exercised its authority under the Arbitration Act to enforce the award but stayed enforcement for approximately six weeks to permit completion of financing for the buy‑out.
Requests concerning termination of the minority shareholder’s board veto rights and the status of a mortgage held by the minority shareholder were declined.
Operational arrangements ordered in prior interlocutory endorsements were continued pending the buy‑out deadline.