The plaintiff, 2724050 Ontario Inc., brought a motion seeking the appointment of an inspector under section 161 of the Ontario Business Corporations Act (OBCA) to investigate the defendants, BAS Sports Group Inc., Reid Acton, and Bob Acton Sports Ltd. The defendants opposed this motion and brought a cross-motion for the appointment of a business valuator.
The court found that the parties had irreconcilable differences and needed to separate.
The plaintiff's motion for an inspector was dismissed, as the court found no prima facie evidence of oppression or deceit by the defendants, and noted the plaintiff's "unclean hands" due to non-payment of purchase price instalments and deceptive use of the "Beast" brand for their own separate business.
The defendants' cross-motion for a business valuator was granted, with the court ordering a valuation under section 207 of the OBCA to determine the fair market value of the shares.