Can a party who inherited shares in a company that was once owned by his mother, purchase the shares in the company for the same amount?

British Columbia, Canada

The following excerpt is from Froese v. Sharif, 2017 BCSC 635 (CanLII):

In Kreutziger v. Kreutziger, [1999] 89 A.C.W.S. (3d) 597 (B.C.S.C.) [Kreutziger], two brothers inherited shares in a company from their mother. The company owned a dairy farm. The respondent commenced proceedings to wind up the company and to vary the mother’s will. The applicant agreed to purchase his brother's shares for a certain price, subject to final adjustment on arbitration. After payment of a deposit, the balance of the purchase price was secured by two mortgages.

Other Questions

Can directors of a company purchase their shares without disclosing pending negotiations for the sale of the company's undertaking? (Alberta, Canada)
Is there any case law in which a party who was not involved in the day-to-day management of a company can fix the price of its shares? (British Columbia, Canada)
What is the test for obtaining financial assistance for the purchase of a private company's shares? (Alberta, Canada)
In what circumstances will a court order a purchase of the shares of a company in which there are no directors or shareholders? (Ontario, Canada)
Does the resale of flow-through shares and of the other shares issued by the same corporations constitute an operating motivation for the purchase and sale of the flow through shares? (Canada (Federal), Canada)
Does a subsequent purchaser of the legal estate have to pay the full consideration of the purchase, even after the purchase was completed, if the subsequent purchaser has paid the entire amount of consideration, even though the previous purchaser had a prior equitable interest in the property? (Saskatchewan, Canada)
How have shares in a company been entered on the books of the company and transferred in trust? (Saskatchewan, Canada)
What is the effect of an injunction restraining the wife from selling, disposing of or voting her shares in a company to effect a sale or disposal of the assets of the company? (British Columbia, Canada)
Does a resulting trust exist when a party makes a financial contribution to the initial purchase of a property but then gratuitously transfers their title to the other party? (Ontario, Canada)
What are the implications of the Supreme Court's decision to re-apportion the value of a property owned by one party to one party in a family law case? (British Columbia, Canada)
Grey70logo nobg 96dpi


Company

  • About
  • Mission
  • Testimonials
  • Careers
  • Contact

    • Product

  • How It Works
  • Memo Structure
  • Sample Memos
  • Best Practices

    • Resources

  • Blog
  • Caselaw Roundup
  • Terms of Service
  • Privacy Policy


    • @ Copyright 2022 Alexsei Inc. All rights reserved.