The appellant sought an oppression remedy under s. 241 of the Canada Business Corporations Act after being removed from the corporation’s share register.
The appeal turned on whether he had a reasonable expectation of continued shareholder treatment and whether non-compliance with statutory transfer formalities, in these facts, constituted oppressive conduct.
The majority held the trial findings established that the appellant had asked to cease being a shareholder, so the alleged expectation was not reasonable and the oppression claim failed.
The Court confirmed that statutory non-compliance alone does not automatically establish oppression absent frustration of reasonable expectations.
