Facts: The case involves Badda Boom Trucking Ltd., Liondale Inc., and other parties as shareholders of HiRoad Projects Inc., with disputes over corporate governance, buy-sell notices, and financial management. The disagreements led to legal actions seeking enforcement of a Unanimous Shareholder Agreement (USA) and related corporate governance matters.
Issue: The primary legal issues revolve around the validity of a buy-sell notice, the return of shareholder loan payments, and the enforcement of decisions requiring unanimous shareholder consent for financial transactions and corporate governance actions.
Court's Ruling: The court ruled that the buy-sell notice issued by Easy Tech was invalid as it contravened the terms of the USA. It also ordered the return of shareholder loan payments made without proper quorum and adherence to the USA and the January 20, 2022 agreements. Furthermore, it mandated that no dividends or salaries be paid or increased without the unanimous consent of all shareholders, in line with the USA.
Costs/Damages: The judgment granted the orders requested by the applicants (Badda Boom Trucking Ltd. and others), including costs, but the specific amount of costs or damages awarded was not mentioned in the available summary.
