The appellant sold his company to the respondents and entered into an employment agreement.
After the company was assigned into bankruptcy, the appellant sued for breach of contract, oppression, and wrongful dismissal.
The trial judge awarded damages for oppression but dismissed the claims for the share purchase price, wrongful dismissal, and punitive damages.
On appeal, the Court of Appeal found the trial judge erred in interpreting the share purchase agreement, holding that the plain wording required a minimum payment of $750,000 for the shares after five years regardless of profitability.
The appeal was allowed in part to award the $750,000, but dismissed regarding wrongful dismissal and punitive damages.