Facts: WB Cape International Limited filed against Liquid Media Group Ltd. concerning the composition of the board of a subsidiary, seeking injunctive relief to enforce an agreement on board appointments.
Issue: The core issue was whether the agreements regarding the composition of the subsidiary's board were breached and if such actions constituted oppressive conduct towards WB Cape International Limited as a shareholder.
Court's Ruling: The court declined the injunctive relief sought by the petitioners. The court also concluded that the petitioners did not demonstrate a strong prima facie case for the oppression claim, did not establish that irreparable harm would result if the injunctive relief was not granted, and the balance of convenience did not favor granting the injunction. As a result, the application for injunctive relief was dismissed.
Costs/Damages Awarded: Costs were awarded to the respondent. Financial terms were not specified.
