BUS2 365 Lecture 19: BUS2-365-001 Nov 28
5 Mar 2018
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Overview: oppression i: statutory framework, oppression ii: meaning. This remedy is uniquely broad in its potential for judicial intervention in can. Oppression ii: meaning: breadth of the remedy and equitable nature, 3 distinct concepts, but not well defined, court can intervene when complainant have reasonable expectations to be fairly treated are violated. Interests have been unfairly overlooked, ignored, or treated as unimportant: westfair foods v watt (1991 - alta ca, facts: wf has 2 classes of shares: voting/common shares and non-voting/preferred shares. The preferred shareholders were limited to annually 2$/share but had a residual interest should the corp be wound up and an interest in the current share values. Policy of corp changed so most profits would no longer retained (increasing value of firm) but were distributed so non-preferred got more $ than the preferred who had a fixed rate.
