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corporate Tag

Commercial, Real Estate, Breach of Contract Litigation

*Romijay Enterprises Ltd. v. 11 Yorkville Partners Inc. 2017 ONSC 2388 The plaintiff R Ltd. owned one unit in an eight-unit condominium property. The wife of R Ltd.’s controlling mind B had renovated the unit for use by B’s law firm. After his wife died of cancer, B stopped practising law and transformed the unit into an alternative healing centre. The defendant Y Inc. owned five units in the property. It wished to cause the condominium corporation to sell the property to a non-arm’s-length purchaser, and relied upon s. 124(2) of the Condominium Act, 1998, which provides that a condominium corporation...

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Corporate Fraudulent Case: Midland Resources Holding Ltd. v. Shtaif

**Midland Resources Holding Ltd. v. Shtaif, 2017 ONCA 320 Actions — Bars — Settlement — Plaintiff shareholders induced by defendants’ deceit and fraudulent misrepresentation to invest in sham company to develop oil and gas fields in Russia — Fraud coming to light in June 2006 — Parties entering into settlement agreement and reorganizing venture using new company — Plaintiffs suing defendants for fraudulent misrepresentation, deceit and conspiracy — Settlement agreement not precluding plaintiffs from asserting any claims for period before June 2006. Corporations — Directors — Duties — Trial judge erring in finding that director was liable to shareholder for breach...

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