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Goodmans Publications

Oppression and Disclosure in Closely-Held Family Corporations

June-5-2013

Area Litigation

Summary

The oppression remedy has been described as "the broadest, most  comprehensive and most openended shareholder remedy in the common law world."  Unlike remedies that protect the rights of the corporation itself, the oppression remedy rectifies harm to the legal and equitable interests of a corporation's stakeholders caused by oppressive acts of the directors.  The remedy is available to a wide range of persons, including legal or beneficial shareholders (including minority shareholders), creditors, directors and officers. Some form of the remedy has been adopted federally and in most of the provinces of Canada.

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