Modified Objective Test
The sections of the [Business Corporations Act, S.B.C. 2002, c. 57] on which the petitioners rely are as follows:
Court may order company be liquidated and dissolved
324 (1) On an application made in respect of a company by the company, a shareholder of the company, a beneficial owner of a share of the company, a director of the company or any other person, including a creditor of the company, whom the court considers to be an appropriate person to make the application, the court may order that the company be liquidated and dissolved if
(b) the court otherwise considers it just and equitable to do so.
. . . . .
When considering what is just and equitable the parties' expectations must also be considered based on the past conduct and so long as those expectations are reasonable: Paley v. Leduc (2002), 2002 CarswellBC 3013 (B.C. S.C.). This is described as the modified objective test: Walker v. Betts (2006), 2006 CarswellBC 169 (B.C. S.C.).
Higginson v. R.T.D. Enterprises Ltd. |
2012 CarswellBC 2560 (B.C. S.C.) at para. 19, 24 |