Does the rule in Foss v Harbottle apply to the REIT in this action?
British Columbia, Canada
The following excerpt is from Everest Canadian Properties Ltd. et al. v. Mallmann et al., 2006 BCSC 270 (CanLII):
I have come to the conclusion that it is not “plain and obvious” that the rule in Foss v. Harbottle applies to the REIT in this action in the present motion in particular, in the absence of evidence with respect to the nature and characteristics of the REIT. That is sufficient to dispose of this application.
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