This case involved cross-applications between two shareholders/directors of a closely held corporation, United Investment.
Mohammad Ali Eksir sought a declaration of oppression under section 248 of the OBCA and an order to wind up the corporation, alleging self-dealing and financial misconduct by Mohammad Hamed Yousufzay.
Yousufzay sought an order for a shareholder meeting and production of financial records.
The court dismissed Eksir's oppression application, finding he failed to prove his reasonable expectations were violated, as he was aware of and implicitly approved the impugned transactions (shareholder loans, donations, home renovation expenses, snow clearing).
The court also dismissed the request for winding up, stating it was not a just and equitable remedy given the lack of serious harm and the availability of less drastic remedies.
Yousufzay's application for a shareholder meeting with varied quorum requirements under section 106 of the OBCA was granted to allow for the appointment of directors and address corporate governance issues.