In a recent decision, the Ontario Superior Court of Justice has held that an Executor was negligent in carrying out her duties as an executor and trustee of the Estate, and was personally liable to compensate a beneficiary, when she relied on her Co-Executor to establish a trust fund for the beneficiary as required by the Will, but where the trust fund was never established and the Estate funds intended for the trust fund were dissipated by the Co-Executor.
In a recent decision, the Ontario Superior Court of Justice has held that where majority shareholders are ordered to purchase all the shares of the minority shareholders, a minority discount should not be applied to reduce the purchase price for the shares.
The Ontario Superior Court of Justice has recently held that a long-term employee could not be terminated for just cause for having arrived late for work on the day he was terminated.
In the recent decision in Western Larch Limited et al. v. Di Poce Management Limited et al, the Court of Appeal for Ontario has ruled that, to be enforceable, a shotgun buy-sell offer must comply strictly with the shotgun provision in the authorizing agreement, but has also ruled that strict compliance is not perfect compliance. The Court of Appeal ruled that, in deciding whether a shotgun buy-sell offer meets the strict compliance test, the commercially reasonable expectations of the parties in all the circumstances must be considered.
In a recent decision of the Ontario Superior Court of Justice, the Court held that a Release that had been signed by an employee upon termination to “accept” a severance package only “offering” the minimal entitlements on termination as required under the Employment Standards Act, should be struck and deemed unenforceable, and that the employee could still initiate a claim for wrongful termination under the common law, in addition to receiving Employment Standards Act entitlements.