FYI, For Those That Are Interested:
An excerpt from the Ontario Business Corporations Act that pertains to this situation is as follows:
Oppression remedy
248. (1) Acomplainant and, in the case of an offering corporation, the Commissionmay apply to the court for an order under this section. 1994, c. 27,s. 71 (33).
Idem
(2) Where,upon an application under subsection (1), the court is satisfied thatin respect of a corporation or any of its affiliates,
(a) any act or omission of the corporation or any of its affiliates effects or threatens to effect a result;
(b) the business or affairs of the corporation orany of its affiliates are, have been or are threatened to be carried onor conducted in a manner; or
(c) the powers of the directors of the corporationor any of its affiliates are, have been or are threatened to beexercised in a manner,
that is oppressive or unfairly prejudicial toor that unfairly disregards the interests of any security holder,creditor, director or officer of the corporation, the court may make anorder to rectify the matters complained of. R.S.O. 1990, c. B.16,s. 248 (2).
Court order
(3) Inconnection with an application under this section, the court may makeany interim or final order it thinks fit including, without limitingthe generality of the foregoing,
(a) an order restraining the conduct complained of;
(b) an order appointing a receiver or receiver-manager;
(c) an order to regulate a corporation’s affairs byamending the articles or by-laws or creating or amending a unanimousshareholder agreement;
(d) an order directing an issue or exchange of securities;
(e) an order appointing directors in place of or in addition to all or any of the directors then in office;
(f) an order directing a corporation, subject tosubsection (6), or any other person, to purchase securities of asecurity holder;
(g) an order directing a corporation, subject tosubsection (6), or any other person, to pay to a security holder anypart of the money paid by the security holder for securities;
(h) an order varying or setting aside a transactionor contract to which a corporation is a party and compensating thecorporation or any other party to the transaction or contract;
(i) an order requiring a corporation, within a timespecified by the court, to produce to the court or an interested personfinancial statements in the form required by section 154 or anaccounting in such other form as the court may determine;
(j) an order compensating an aggrieved person;
(k) an order directing rectification of the registers or other records of a corporation under section 250;
(l) an order winding up the corporation under section 207;
(m) an order directing an investigation under Part XIII be made; and
(n) an order requiring the trial of any issue. R.S.O. 1990, c. B.16, s. 248 (3).
A full copy of the Ontario Business Corporations Act can be found at:
Ontario Business Corporations Act