The B.C. Court of Appeal's recent decision on Jaguar Financial v. Alternative Earth Resources has raised the ante for litigants attacking the conduct of boards during takeover proceedings.
"The case is an authoritative and detailed reminder that minority shareholders seeking the protection of statutory provisions must meet significant requirements so as to preserve a pragmatic balance between their rights and respect for the democratic rights of boards elected by a majority of shareholders," said Mark Andrews of Fasken Martineau Dumoulin LLP.
Lexpert contributor Julius Melnitzer reports at lexpert.ca.