The plaintiff, a minority shareholder in a closely held family business, sought an oppression remedy under s. 248 of the Ontario Business Corporations Act, requesting a court-ordered sale of her shares to her brothers and the corporate entity.
She argued that the defendants' refusal to purchase her shares, coupled with a lack of a third-party market and irreconcilable differences, constituted oppressive conduct, and also challenged the corporation's dividend policy.
The court dismissed the action, finding that the plaintiff did not have a reasonable expectation of liquidity for her shares, as the shareholders' agreement did not mandate a buyout and her minority interest inherently had limited liquidity.
The court also found no unfairness in the dividend policy, noting the brothers' active roles and separate shareholdings.
The oppression remedy was not designed to provide an exit strategy for a minority shareholder in the absence of actual oppressive or unfair conduct.