The parties were brothers who held shares in two real estate companies established by their parents in the 1960s and 1990s, respectively. The companies owned valuable properties in Kelowna and Fort St. John. While there had been a disintegration of the parties’ relationship, the court found that their disharmony did not defeat the parties’ reasonable expectations to the extent that recourse to s. 324 was warranted.
Bruce Callahan, Robert Callahan, Doug Callahan et al. v. Shasta Properties Ltd. and Edward James Callahan
NST successfully represented the respondent Edward J. Callahan, in this 4-day petition hearing brought under s.324 of the Business Corporations Act. The petitioners sought an order to compel NST’s client to sell his shares at a value to be determined by a court appointed valuator so they could take control of the companies. The Court held that the petitioners had failed to establish the statutory criteria for an order compelling a share sale.
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