14 Apr 2010
The counterclaims were dismissed because no fiduciary duties arose between the shareholders of the incorporated Lavenders absent a statutory basis to impose equitable duties, the corporate veil was not pierced, and the plaintiffs' conduct did not meet the high threshold required for exemplary damages.
16 Dec 2009
The deeded share exchange fell within s 149 because trustees/directors exchanged shares having material director information; therefore the acquisition had to be at 'fair value' objectively assessed. Pave Capital was effectively a corporate partnership and the 30% minority discount applied by PWC to Cobblestone's 32% holding was inappropriate. Consequently Hobson underpaid; Cobblestone is entitled to the claimed shortfall, reduced by the 10% discount applied to the Pave Consumer transaction.
4 Jul 2008
Summary judgment was dismissed because plaintiffs failed to establish there was no arguable defence or absence of real issues to be tried; material factual disputes existed about intent, authority, and reasons for delay and equity likely required notice making time of the essence before cancellation, therefore matters must be resolved at trial rather than on affidavits.
24 Nov 2004
The application for leave was dismissed because the statutory criteria in s13(2) were not met: the proposed appeal would only re-examine factual balancing under s174 without raising issues of general commercial importance or demonstrating a substantial miscarriage of justice, and the lower courts' conclusion that the s174 claim could not succeed was not shown to be erroneous.