Waterton Precious Metals Bid Corp successfully defends dissent proceeding brought by minority shareholder.

Waterton was successful in the B.C. Supreme Court and Court of Appeal in defending a dissent proceeding commenced by a minority shareholder.  The proceeding arose out of a transaction pursuant to which Chaparral Gold Corp. acquired Waterton.  A minority shareholder dissented from the transaction and sought a valuation of his shares that was three times higher than the transaction value.

The shareholder’s claim was dismissed in its entirety at trial, and the dismissal was updheld at the Court of Appeal.  The Court ordered that the fair value of the minority shareholder’s shares was the price established by the transaction and paid to all other shareholders.