Supreme Court won’t hear appeal of investor group led by Lanny McDonald

The Supreme Court of Canada will not hear a challenge over a business dispute from a group of investors led by former hockey star Lanny McDonald.

At issue is how Birch Mountain Resources Ltd. lost its Alberta limestone quarry to Brookfield Asset Management Ltd. after running into financial trouble.

Retired Calgary Flames star McDonald and his co-plaintiffs have alleged that Brookfield subsidiaries used misleading and oppressive actions to gain control of the company and its quarry.

Brookfield has called the accusations meritless, frivolous and an abuse of process.

In 2015, a Calgary judge agreed, ruling there was no merit to the claim.

Alberta's Court of Appeal also dismissed a challenge and, as usual, the Supreme Court did not give reasons today for refusing to hear the case.