The court was tasked with determining the fair market value of Thomas Scullion's 50% shareholding in the Munro & Scullion group of companies as a remedy for corporate deadlock and oppression.
The parties had agreed that Paul Munro would purchase Scullion's interest at fair market value, which was to be established by the court.
While the parties generally agreed with a court-appointed valuator's mid-range valuation of $4,348,800, Scullion sought to increase this based on three specific issues: bonding, catch basin revenues, and property valuations.
The court rejected Scullion's arguments, finding his claims speculative or based on flawed appraisal methodologies, and ultimately accepted the original valuation.
