Is there any case law supporting the allegation that the financing arrangements provided material information for the purposes of a buy/sell agreement?

Ontario, Canada


The following excerpt is from Aronowicz v. Emtwo Properties Inc., 2009 CanLII 23888 (ON SC):

I would also observe that there is no case law supporting the plaintiffs' allegations that a duty of disclosure could arise in the present circumstances or that the financing arrangements constituted material information for the purposes of a buy/sell [page541] agreement. The only decision identified by the plaintiffs as supportive of their position is a short endorsement of Ground J. in Tzembelicos v. Tzembelicos, [2004] O.J. No. 154, [2004] O.T.C. 45 (S.C.J.). However, the facts in that decision are materially different from the present proceeding in a manner that is illustrative for present purposes.

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