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ARTICLE · 15 MARCH 2024

Ren v. Eastern Platinum Limited, 2023 BCSC 404 And 2023 BCSC 706

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In these decisions, the Supreme Court of British Columbia granted an application for leave to commence a derivative action against the former CEO of Eastern Platinum Limited (EPL)...

CanadaLitigation, Mediation & Arbitration
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Ren v. Eastern Platinum Limited, 2023 BCSC 404 and 2023 BCSC 706

In these decisions, the Supreme Court of British Columbia granted an application for leave to commence a derivative action against the former CEO of Eastern Platinum Limited (EPL) framed in negligence and breach of fiduciary duty.

EPL, a B.C. public company, owned the right to conduct mining operations at a platinum and chrome mine in South Africa (Mine) through a subsidiary. The petitioner, Ms. Ren, a shareholder of EPL, alleges that the present and former directors of EPL acted negligently and in breach of their fiduciary duties by causing the company to enter into agreements with Union Goal Offshore Limited (Union Goal) for the exploitation of mine tailings at the Mine. Ms. Ren contends that EPL suffered loss as a result of the agreements and sought leave to commence a derivative action under s. 232 of the B.C. Business Corporations Act in EPL's name against the directors. Ms. Ren's initial draft

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