Badr v. 2305136 Ontario Inc.
ANTOINE CHAHINE BADR, ANTOINE CHAHINE BADR o/a MYANT CONSULTING
MYANT CONSULTING INC.
B.O.T. INTERNATIONAL INC
2305136 ONTARIO INC.
Law Firm / Organization
Adair Goldblatt Bieber LLP
VIKEDA INTERNATIONAL LOGISTICS AND AUTOMOTIVE SUPPLY LTD.
Law Firm / Organization
Not Specified
VIKEDA INDUSTRIES INC.
Law Firm / Organization
Not Specified
VIKEDA VENTURES LTD.
Law Firm / Organization
Not Specified
VIKEDA ENTERPRISES LTD.
Law Firm / Organization
Not Specified
2208824 ONTARIO INC.
Law Firm / Organization
Not Specified
G.L.A.D. OPERATIONS INC.
Law Firm / Organization
Not Specified
G.L.A.D. INTERNATIONAL INC.
Law Firm / Organization
Not Specified
THE ESTATE OF VINCENT WONG BY ITS ESTATE TRUSTEE ARABELL KAREN LIM
Law Firm / Organization
Adair Goldblatt Bieber LLP
KEN WONG
Law Firm / Organization
Not Specified
DANNY WONG
Law Firm / Organization
Not Specified
ALEX KUA
Law Firm / Organization
Not Specified
KENNETH KING YU CHAN
Law Firm / Organization
Not Specified
The case of Badr v. 2305136 Ontario Inc. dated April 17, 2023, was the third phase of an ongoing trial related to court orders by Penny J., which had involved the Estate of Vincent Wong (the "Wong Estate") and Anthony Chahine Badr. The objective had been to ascertain the sum owed by the Wong Estate to Mr. Chahine Badr due to findings of Vincent Wong's oppression of Mr. Chahine Badr's interests. Crucial determinations had included Mr. Chahine's shareholder loan to 2305 at the valuation date and any outstanding financing fees. The court had examined the amounts outstanding both at the valuation date and at present, impacting fair value calculation and final payment orders. The key findings from prior court orders had indicated that Mr. Chahine had been a 50 percent shareholder of 2305 and Mr. Wong had been obligated to buy his interest at fair value. Mr. Chahine had had a $2.8 million shareholder loan from 2305 and had been required to be repaid, affecting the final payment. Additionally, Mr. Wong had diverted funds for personal use. In a comprehensive outcome, the Wong Estate had been directed to pay Mr. Chahine a total of $3,346,901 within 30 days for his share in 2305, outstanding loan balance, and financing fees. Parties had been tasked with negotiating costs or arranging a case conference if an agreement couldn't be reached.
Superior Court of Justice - Ontario
CV-13-10312-00CL; CV-13-00010312-00CL
Corporate & commercial law
$ 3,346,901
Applicant