Plaintiff
Defendant
Background:
The parties were shareholders in 0852069 B.C. Ltd., which owned the Chalet Continental Motel. Jin Yeol Kim claimed that Kyu Ha Kim and In Sook Lee had loaned him money to buy the property and agreed to transfer their shares to him upon repayment. Kim asserted that an oral agreement existed, making the defendants' shares a form of security. The defendants denied this and considered themselves rightful shareholders.
Legal Arguments and Issues:
Jin Yeol Kim sought:
Court Decision:
The court dismissed Jin Yeol Kim's application, denying his requests to preserve the trust funds or interfere with business decisions. The court also granted the release of the $661,823 trust funds to 0852069 B.C. Ltd.
Costs:
The court awarded costs in favor of the defendants, 0852069 B.C. Ltd., and Kyu Ha Kim and In Sook Lee, with each defendant entitled to costs "in the cause" (to be determined based on the outcome of the trial).
Court
Supreme Court of British ColumbiaCase Number
S250468Practice Area
Corporate & commercial lawAmount
Winner
DefendantTrial Start Date
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