At the very foundation of corporate law in Canada lies the idea that corporations must be good corporate citizens and consider the interests of everyone who is a stakeholder and who may be affected by their corporate actions.
When corporate actions or decisions negatively impact those with interests in the corporation (including directors, officer, shareholders, creditors, and debtors) the affected parties may have grounds to request an oppression remedy.
At Milosevic Fiske LLP, we help our clients see through the dense forest of even the most complicated corporate disputes. We excel at cutting through the underbrush and guiding clients to a creative, cost-effective solution. We represent both parties who are seeking to obtain an oppression remedy, and those against whom oppressive conduct has been alleged.
The oppression remedy is a mechanism provided by both the Ontario Business Corporations Act (OBCA) and the Canada Business Corporations Act (CBCA) to protect the interests of shareholders against misconduct. Where the corporation in question was incorporated (i.e. federally or provincially) will determine which of the two pieces of legislation will apply.
The oppression remedy is a powerful remedy that courts can order where the conduct of a corporation or its directors is unfairly prejudicial to shareholders, other directors, or officers of the corporation.
Actions that can result in a finding of oppression include:
Once oppression has been found, courts have broad discretion to rectify the oppressive conduct and can order a wide range of remedies, including:
At Milosevic Fiske LLP in Toronto our highly experienced corporate lawyers are all skilled litigators. We have become exceptionally adept at thinking on our feet and addressing the unexpected, particularly in a corporate law context. Over the years we have seen it all and helped our clients mitigate their legal and financial risks. Call us at 416-916-1387 or contact us online for a consultation.
Phone: (416) 916-1387