2024 YKSC 27

• Outcome: The Yukon Supreme Court dismissed Mr. Cheng’s claim.
• Key Reasoning:
  • Mr. Cheng, a minority shareholder of Katanga Mining Limited, alleged that Glencore’s acquisition of Katanga’s shares was oppressive under the Business Corporations Act (BCA).
  • The court ruled that the BCA applies only to corporations currently incorporated in the Yukon, and since Katanga had been discontinued and continued in the Isle of Man, the court lacked subject-matter jurisdiction.
  • The court also rejected the argument that the oppression remedy was a statutory tort and found that New Katanga was not named as a defendant, weakening Mr. Cheng’s case.
  • Final Order: The action was dismissed, and the issue of costs was left for further discussion?.

2024 YKSC 61

• Outcome: Mr. Cheng’s application for reconsideration was denied.
• Key Reasoning:
  • Mr. Cheng sought a reconsideration on the basis that the dismissal ruling overlooked the fact that he had no notice or opportunity to oppose Katanga’s discontinuance.
  • The court held that reconsideration is only granted to prevent a miscarriage of justice, and since Mr. Cheng’s concerns could be addressed in an appeal, there was no reason to reopen the case.
  • Final Order: The court refused to reconsider the dismissal, maintaining its decision?.

Final Outcome Considering Both Decisions

• The lawsuit was dismissed, and the reconsideration request was denied.
• The Yukon Supreme Court concluded it had no jurisdiction over the claim.
• Mr. Cheng’s only remaining recourse is an appeal, which is pending?.
• No monetary award was ordered.