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 […]
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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 […]