Court of Appeal rules shareholders’ agreement terminated by receiving order
(case digest)

In 0732226 B.C. Ltd. v. Bouchard, 2007 BCCA 588, the Court of Appeal considered a shareholders’ agreement containing an automatic termination clause in the event of receivership. The court found the agreement was terminated when the shareholders consented to an order appointing an interim receiver; a compulsory buy-out provision in the terminated agreement was therefore not enforceable.  

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