The plaintiffs brought a motion for the appointment of an inspector under s. 161 of the Business Corporations Act to investigate two defendant companies.
The defendants opposed, arguing the plaintiffs lacked standing as they were no longer shareholders.
The court found the plaintiffs had standing based on original share certificates.
The court granted the motion, holding that the companies' failure to provide financial statements prior to 2012 raised an index of suspicion of oppressive conduct, meeting the low evidentiary threshold for appointing an inspector.
The inspector's mandate was limited to issues not statute-barred.
