The applicant minority shareholder sought a determination of the purchase price for her 40% interest in a real estate holding corporation owned with her former spouse.
The court found that the respondent majority shareholder engaged in oppressive conduct by failing to provide financial disclosure, operating the corporation solely for the benefit of his separate operating company, and destroying corporate records.
To remedy the oppression, the court valued the applicant's shares at $1,832,054.60 without applying a minority discount.
