The applicants, minority shareholders of Xtreme Trampoline Park Inc. and XTP Holdings Inc., brought an oppression remedy application against the majority shareholder, Sixin Wei, alleging he denied them access to financial records, withheld proceeds from a property sale, and surreptitiously obtained funds held in trust.
The court found Mr. Wei's conduct oppressive, unfairly prejudicial, and unfairly disregarded the applicants' reasonable expectations regarding financial transparency and distribution of sale proceeds.
The court ordered Mr. Wei to provide full access to accounting records, a detailed accounting of funds, and to preserve a significant portion of the disputed funds in an interest-bearing account pending further agreement or court order.