TCR Holding Corporation amalgamated with several subsidiaries, inadvertently including one that had guaranteed a promissory note to the appellants.
Upon discovering the mistake, TCR applied to set aside the amalgamation.
The application judge granted the order, finding the inclusion was an inadvertent mistake and the appellants would receive a windfall if the amalgamation stood.
The appellants appealed.
The Court of Appeal dismissed the appeal, upholding the application judge's exercise of equitable jurisdiction to relieve against mistake and set aside the amalgamation.