The applicants and respondents were equal shareholders in a corporation that owned a commercial property.
They entered into a Share Purchase Agreement (SPA) for the respondents to buy the applicants' shares.
The respondents failed to complete the payments under the SPA and subsequently excluded the applicants from the corporation's management, including selling the property without the applicants' consent.
The court found that the respondents repudiated the SPA and acted oppressively.
The SPA was terminated, and the applicants remained one-third shareholders, entitling them to an equal share of the net proceeds from the property's sale.
The respondents were granted relief from forfeiture for the $50,000 already paid under the SPA, but the funds were to be held pending a costs determination.
