Unique harm needed to pursue oppression claim
Monique Jilesen was quoted in Canadian Lawyer on May 27, 2015 regarding the recent Court of Appeal decision in Rea v. Wildeboer.
"When directors of a corporation in which you hold shares act against your interests, it might feel personal. But unless the harm done was unique to you and you alone, you may not pursue an oppression claim, says the Ontario Court of Appeal.
In a ruling yesterday, the court struck an oppression claim after finding the alleged breaches affect all shareholders of a publicly traded company and must proceed by way of a derivative action...
...The ruling brings some clarity around the murky area of whether a complaint qualifies as an oppression claim or must proceed as a derivative action. It's an area made even more complex by overlaps between personal and corporate interests, according to Monique Jilesen, a partner at Lenczner Slaght Royce Smith Griffin LLP..."