Wayward Fiduciary entitled to receive bonus from former Employer, says Court of Appeal
The Court of Appeal’s decision in Mady Development Corp. v. Rossetto, 2012 ONCA 31, reaffirmed the principle that equitable relief is always discretionary and fact specific. [more] Full article
Magna Plan of Arrangement approved by Ontario Courts
A judge of the Ontario Superior Court of Justice’s Commercial List recently approved a plan of arrangement that eliminated the dual class share structure at Magna International Inc. (“Magna”) and ... [more] Full article
Business judgment rule does not trump unanimous shareholders’ agreement
Directors of a corporation cannot invoke the business judgment rule to justify decisions that violate a unanimous shareholders’ agreement, the Ontario Divisional Court held recently. [more] Full article
Oppression does not guarantee relief
In Hu v. Sung, Superior Court Justice David Brown confronted the question of what to do when a shareholder in a private corporation has wrongfully excluded another from the affairs of the company, but by the time of trial the company has ceased operations, has not turned a profit and there is no evidence the offending shareholder personally benefited from the oppression. [more] Full article