The plaintiff, a former consultant and minority shareholder of Kela Medical Inc., brought an action for oppression, breach of contract, and breach of the duty of good faith against the corporation and its principals.
The plaintiff claimed he was entitled to a 33% stake in the proceeds of the sale of a related company, KAI, based on a 2013 compensation agreement.
The court dismissed the action, finding that the 2013 Agreement was a one-year contract that expired before the conditions for the plaintiff's claimed benefits were met.
The court also found no oppressive conduct or misrepresentations by the defendants.
Furthermore, the court held that the plaintiff's claims were statute-barred under the Limitations Act, 2002, as he knew or ought to have known the material facts giving rise to his claims when he resigned in 2014, more than two years before commencing the proceeding.
