What is a shareholder’s reasonable expectations in a motion for oppression?
British Columbia, Canada
The following excerpt is from Firebird Global Master Fund II, Ltd. v. Energem Resources Inc., 2011 BCSC 622 (CanLII):
In addition, a shareholder’s reasonable expectations will be based on the extent to which a shareholder is aware of the circumstances said to constitute oppression at the relevant time: Samra v. Bel-Air Taxi Ltd., 2009 BCSC 548 at para. 37. To that I would add that this awareness will be considered not only where the shareholder has direct knowledge of the matters, but also where the shareholder has been put on enquiry and has reasonable means to gather further information.
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