Mark Laschuk

The court considered whether to dismiss the plaintiffs' action for delay under Rule 48.14 of the Rules of Civil Procedure.

The plaintiffs argued that the delay was due to their former counsel and the conduct of the defendants, and that they always intended to prosecute the action.

The court refrained from deciding the motion, directing that the former counsel be served with the motion materials and given an opportunity to respond, as the allegations against him could affect his interests and the fairness of the process.

The applicants, holding approximately nine percent of the units of First Capital Real Estate Investment Trust, requisitioned a special meeting to replace four trustees.

The board scheduled the meeting for May 16, 2023, five months after the requisition.

The applicants sought an order compelling the meeting to be held earlier.

The court found that the board's decision to delay the meeting was not deserving of deference, as the justifications provided—cost savings, allowing a business plan to unfold, and providing more time for unitholder consideration—were not compelling and prejudiced the requisitioning unitholders.

The application was granted, and the trust was ordered to hold the meeting as soon as practicable after March 1, 2023.