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Shareholders of Canadian companies have remedies under the Canadian Business Corporations Act and in some circumstances, under provincial statutes, including the Ontario Business Corporations Act, to protect them from corporate conduct that is oppressive, prejudicial and unfairly disregards their interests.
The Oppression Remedy is a powerful tool in Canadian corporate law that protects a broad swath of stakeholders from oppressive corporate conduct. CBCA, s.241(3) gives the court broad authority to make any “interim or final order it sees fit” in the face of oppressive conduct. Some of the actions that the court may order including preventing the complained of conduct, an order to replace all or some of the corporate directors, or order to purchase the complainants shares at fair market value, setting aside a transaction, an order to liquidate or dissolve the corporation, among many other remedies.
Contact the Rose Law Firm for strategic counsel on the best path to pursue if you are experiencing a shareholder dispute.