Is a shareholder buy/sell provision in a unanimous shareholder agreement enforceable?
Ontario, Canada
The following excerpt is from Harris v. Leikin Group Inc., 2013 ONSC 1525 (CanLII):
Certainly some cases have demonstrated such a judicial reluctance. For example, in Aronowicz v. Emtwo Properties the Court of Appeal commented that it was hard to conceive of a corporate/commercial mechanism less likely to attract the operation of fiduciary obligations than a shotgun buy/sell provision in a unanimous shareholders agreement.[46]
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