The plaintiff, a minority shareholder and employee of a closely held construction management company, brought an action for wrongful dismissal and oppression after a contentious meeting where the majority shareholders claimed he resigned.
The court found the plaintiff was terminated without cause, as his emotional outburst did not constitute a clear and unequivocal resignation.
The court also found the majority shareholders engaged in oppressive conduct by unilaterally removing him as a director, withholding his shareholder loan, and failing to value his shares upon termination.
To rectify the oppression, the court valued the plaintiff's shares at the subsequent fiscal year-end, awarding $440,100 for the shares, $100,000 for pay in lieu of notice, and $75,000 in punitive damages for the defendants' high-handed conduct.