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Old case, new gloss: The Ontario Court of Appeal clarifies the rule in <i>Foss v Harbottle</i>

from WeirFoulds LLP

Old case, new gloss: The Ontario Court of Appeal clarifies the rule in Foss v Harbottle WeirFoulds LLP The recent decision of the Ontario Court of Appeal in Tran v Bloorston Farms Ltd., 2020 ONCA 440, provides a helpful explanation and clarification of the rule in Foss v Harbottle (1843), 67 ER 189 (UKHL). The decision shows that there are circumstances in which a shareholder may have a cause of action to claim for a loss, including a diminution in the value of their shareholding, where the company has suffered loss but has no cause of action. The rule will not bar the shareholder’s claim. READ MORE

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