The appellants, the chief and band council of the Wasauksing First Nation, appealed a decision dismissing their application to rectify the corporate records of Wasausink Lands Inc. (WLI) to reflect that all band members were members of WLI and the band council were its directors.
The Court of Appeal dismissed the appeal, finding no error in the trial judge's conclusion that the factual basis for rectification was not established and that s. 309(1) of the Corporations Act is not intended for fundamental corporate restructuring.
The Court also declined to impose a constructive trust as it was raised for the first time on appeal, and rejected the claim for a constitutional exemption based on aboriginal rights.
