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ARTICLE · 20 JANUARY 2012

Recent Yukon Supreme Court Decision Provides Relief For Shareholders In Exceptional Circumstances

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The Yukon Supreme Court recently determined that based on exceptional circumstances, certain Norwegian shareholders of Crew Gold Corporation should not be prohibited from accessing the dissent remedy under section 193 of the Yukon Business Corporations Act; this despite the Norwegian shareholders non-conformity with a technicality in the dissent procedure.

CanadaLitigation, Mediation & Arbitration
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The Yukon Supreme Court recently determined that based on exceptional circumstances, certain Norwegian shareholders of Crew Gold Corporation should not be prohibited from accessing the dissent remedy under section 193 of the Yukon Business Corporations Act; this despite the Norwegian shareholders non-conformity with a technicality in the dissent procedure.

The right of dissent is a remedy available to shareholders who disagree with the value offered for their shares in various types of transactions. Dissent rights and dissent procedures are prescribed by corporate statute and include a process by which shareholders may apply to court for a valuation of their shares. Only shareholders who give notice of dissent in accordance with applicable dissent procedures are permitted to access the valuation remedy.

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