Case Background: Casa Margarita Enterprises Ltd. ("Casa"), a minority shareholder in Huntly Investments Limited ("Huntly"), sought to sell its shares for estate winding up. Huntly's refusal led Casa to claim oppression under the Business Corporations Act.

Trial Findings: The court found Huntly's conduct oppressive to Casa, ordering some appellants to purchase Casa's shares.

Appeal Outcome: The appeal was largely dismissed, upholding the trial court's findings of Casa's reasonable expectations being frustrated by Huntly's actions, including the unfair treatment regarding a special dividend and the order for appellants to buy Casa's shares. The error in dividend allocation to one shareholder was not deemed material to the overall findings.

Key Points:

• Casa's reasonable expectations for share purchase were supported by historical relationships and past conduct within the closely-held corporation.
• The refusal to provide Casa with information necessary for share valuation and the unequal treatment in dividend distribution were found oppressive.
• The order for certain appellants to purchase Casa's shares was upheld, except for Huntly, due to its inability under corporate articles to buy its own shares.