This application, proceeding as a hybrid trial, concerned the valuation of CE Williams Import Export Inc. (the "Corporation"), a company jointly operated by the applicant and respondent.
The court addressed disputes regarding the Corporation's value following the dissolution of the parties' business relationship in 2015.
Key determinations included dismissing the respondent's limitations defense, establishing a 5% commission rate for valuation, excluding revenue from the FCR brake flange DT program, including revenue from the Gen V (Magna) program for the full valuation period, and setting specific income for the Bridgestone fastener and Multimatic E2xx programs.
The court normalized owner salaries at $110,000 and variable expenses at 20% of revenue, and ruled that sales volumes should include all of North America.
A terminal value for the Corporation was excluded.
The court also ordered adjustments in the applicant's favour for assets transferred to the respondent's new company and to equalize expenses.
The parties' experts were directed to re-calculate the Corporation's value based on these findings, with the respondent to account for 50% of the adjusted value plus prejudgment interest.
