Is there any case law where a beneficiary is not a beneficiary under a Shareholders Agreement?
British Columbia, Canada
The following excerpt is from KRG Insurance Brokers v. Shafron & Other, 2005 BCSC 1611 (CanLII):
Regardless of the existence of the plaintiff as a beneficiary under the agreement the fact remains that the plaintiff did not and cannot purchase its own shares or its own goodwill and it did not do so. In my view, the more rigorous test and standard of reasonableness arising out of an employee/employer relationship is applicable. TREGO v. HUNT
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