Ontario Court Identifies New Presumptive Connecting Factor in Establishing Jurisdiction
In Arend v Boehm, 2017 ONSC 3424, the three Applicants in a corporate dispute applied for orders pursuant to the oppression remedy (section 248) of the Ontario Business Corporations Act in respect of BitRush, an Ontario company. The Judge noted that BitRush’s business was “reflective of the worldwide impact of business connected with the internet.” The international character of BitRush’s business was reflected in the identity of the Respondents, who were: 1) BitRush’s CEO, an Austrian resident; 2) a former BitRush board member, also an Austrian resident; 3) BitRush’s majority shareholder, a UK company; and 4) another Austrian resident. The Applicants sought: 1) a declaration that the Respondent CEO has acted oppressively, in breach of his fiduciary duty to BitRush; 2) an order transferring shares of BitRush from the Respondent UK company to certain other stakeholders; and 3) an order that the Respondent UK company’s remaining shares in BitRush be … Read More