In the context of a multi-pronged shareholder dispute between Ms. Li and Mr. Frost in respect of their closely-held company, ALNA Packaging Co. Ltd. (“ALNA”), a recent decision of the BC Supreme Court dealt with a petition purportedly brought by ALNA itself to affirm or otherwise validate the election of a third director which took place at a shareholders’ meeting on March 5, 2024.
The petition was heard September 16-18, 2024. After considering the relevant provisions of ALNA’s articles, the Court concluded that, the resolution to elect the third director was invalid.
The Court also declined to validate the resolutions passed at the purported March 5 shareholders’ meeting under s. 229 of the Business Corporations Act in the context of Ms. Li’s outstanding oppression petition which alleges that the resolutions passed at the March 5 meeting were made for the purpose of advancing Mr. Frost’s positions and interests and are therefore oppressive.
May 21, 2026