The applicants invested funds into a business enterprise intended to operate an entertainment complex out of a leased heritage building.
The corporate structure was never formalized, and the funds were advanced directly to the tenant corporation.
The principal of the tenant subsequently locked the applicants out of the premises and refused to provide corporate or financial records.
The applicants brought an oppression remedy application.
The court found that although the applicants were not direct shareholders of the tenant, they were proper complainants as beneficial owners of the business enterprise.
The court held that the respondents' conduct defeated the applicants' reasonable expectations and ordered disclosure, an accounting, and tracing of funds, while adjourning requests for operational control and a buyout to a trial of issues.