Can a party who inherited shares in a company that was once owned by his mother, purchase the shares in the company for the same amount?
British Columbia, Canada
The following excerpt is from Froese v. Sharif, 2017 BCSC 635 (CanLII):
In Kreutziger v. Kreutziger, [1999] 89 A.C.W.S. (3d) 597 (B.C.S.C.) [Kreutziger], two brothers inherited shares in a company from their mother. The company owned a dairy farm. The respondent commenced proceedings to wind up the company and to vary the mother’s will. The applicant agreed to purchase his brother's shares for a certain price, subject to final adjustment on arbitration. After payment of a deposit, the balance of the purchase price was secured by two mortgages.
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