B.C. Supreme Court directs firm’s majority shareholder to repay excessive salary

By Karunjit Singh (May 15, 2023, 4:37 PM EDT) -- The Supreme Court of British Columbia has directed the majority shareholder and director of a company being shut down to repay the company $93,149, finding that the director paid herself an excessive salary constituting unfair prejudice to minority shareholders. The court did, however, reject claims by the minority shareholders that decisions by the director to pay herself a retirement allowance and retroactive pay breached their reasonably held expectations....
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