Plaintiff
Defendant
Facts: This dispute involves the family-owned business, 3D Cycles Ltd., and centers around the actions of Lillian Renpenning, the majority shareholder and director, which were claimed by her children, Darwin and Denise Renpenning, to be oppressive. The children are minority shareholders who objected to how Lillian managed the dissolution of the company and distributed its assets.
Issue: The main issue was whether Lillian’s actions in her capacities as the director and majority shareholder, particularly her decisions regarding her own remuneration and the payment of company assets to herself, were oppressive or unfairly prejudicial to the minority shareholders (her children).
Court's Ruling: The court found that some of Lillian's actions, including paying herself an excessive salary in 2019 and directing the company to cover her legal fees for this action, were unfairly prejudicial to the plaintiffs. However, other actions were not deemed oppressive, such as the retirement allowance she awarded herself.
Costs/Damages Awarded: The court ordered that specific financial transactions that were found to be oppressive or unfairly prejudicial should be reversed or compensated. The exact figures were not detailed in the summary but would be calculated based on the proportionate shares of over-payments directed to be rectified in favor of the plaintiffs.
Court
Supreme Court of British ColumbiaCase Number
S00323Practice Area
Corporate & commercial lawAmount
Winner
PlaintiffTrial Start Date
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