Oppression is defined under the Ontario Business Corporations Act as conduct that is “oppressive or unfairly prejudicial to or that unfairly disregards the interests of any security holder, creditor, director or officer of the corporation”. This conduct does not need to be illegal so long as it fits the definition set out in the legislation. […]
Category Archives: Oppression Claims
Oppression and the Right to Financial Information
Recently we wrote to provide an overview of the Oppression Remedy. There, we learned that the leading case dealing with the interpretation of the oppression remedy was the Supreme Court of Canada’s (SCC) decision in BCE Inc v Debentureholders. The Divisional Court of Ontario has recently released its decision in APAC Limited v. Cronin which dealt […]
The Oppression Remedy: An Overview
When corporate actions or decisions negatively impact those with interests in the corporation (including directors, officer, shareholders, creditors, and debtors) the affected parties may have grounds to request an oppression remedy. The oppression remedy focuses on the harm done to the legal and equitable interests of a wide range of stakeholders affected by alleged oppressive […]
Oppression Remedy or Derivative Action?
The Ontario Business Corporations Act (OBCA) and The Canada Business Corporations Act (CBCA) are both remedial statutes. They serve to regulate corporate behaviour but also to remedy some restrictive common law rules that applied to corporations. Two such remedies are the Oppression Remedy and, with leave of the court, The Derivative Action. To understand these […]