Jacobsen v. United Canso Oil & Gas Ltd., (1980) 23 A.R. 512 (QB)

• Judge: Forsyth, J.
• Court: Court of Queen's Bench of Alberta (Canada)
• Case Date: June 12, 1980
• Citations: (1980), 23 A.R. 512 (QB)

Jacobsen v. United Canso Oil & Gas Ltd. (1980), 23 A.R. 512 (QB)

MLB headnote and full text

Jacobsen v. United Canso Oil & Gas Ltd.

(Q.B. 7901-10596)

Indexed As: Jacobsen v. United Canso Oil & Gas Ltd.

Alberta Court of Queen's Bench

Judicial District of Calgary

Forsyth, J.

June 12, 1980.

Summary:

This headnote contains no summary.

Company Law - Topic 2172

Shareholders - Shareholders' rights - Presumption of equality between shareholders - The Alberta Court of Queen's Bench stated that there is a presumption that there is an equality of rights between shareholders - See paragraphs 12 to 13.

Company Law - Topic 2504

Shareholders - Shares - Voting of shares - Voting rights - During the life of the Companies Act, R.S.C. 1952, c. 53, a company, which had par value shares, passed a bylaw providing that one shareholder could vote a maximum of 1,000 shares notwithstanding the number of shares held - Supplementary letters patent incorporating the bylaw were issued under the successor Canada Corporations Act, S.C. 1964-65, c. 52 and articles of continuance were issued under the successor Canada Business Corporations Act, S.C. 1974-75, c. 33 - The bylaw was challenged as being contrary to the Canada Business Corporations Act - The Alberta Court of Queen's Bench held that the bylaw limiting the voting rights of shareholders with more than 1,000 shares was invalid under all three statutes.

COMMENT:

For a judgment in a related action see Jacobsen v. United Canso Oil & Gas Ltd. (1980), 40 N.S.R.(2d) 692; 73 A.P.R. 692.

Cases Noticed:

Inland Revenue Commissioners v. Hinchy, [1960] A.C. 748, appld. [para. 19].

Statutes Noticed:

Canada Business Corporations Act, S.C. 1974-75, c. 33, sect. 4 [para. 7]; sect. 6 [para. 35]; sect. 24 [para. 36]; sect. 134(1) [para. 35]; sect. 168(5) [para. 37]; sect. 181 [paras. 9, 35]; sect. 261(3) [para. 8].

Canada Corporations Act, S.C. 196465, c. 52, sect. 4 [para. 31]; sect. 13(1) [para. 26]; sect. 13(4), sect. 36(4), sect. 36(5) [para. 27]; sect. 104 [para. 28].

Companies Act, R.S.C. 1952, c. 53, sect. 12(1), sect. 12(2), sect. 12(5), sect. 12(8) [para. 21]; sect. 12(14), sect. 12(15) [para. 22]; sect. 33(4) [para. 24]; sect. 59(1)(a) [para. 25]; sect. 102, sect. 103 [para. 18].

Authors and Works Noticed:

Gower, Modern Company Law (3rd Ed.), p. 349 [para. 13].

Palmer, Company Law (22nd Ed.), vol. 1, p. 334 [para. 12].

Counsel:

T.H. Ferguson, for the plaintiff;

C.A. Thompson, Q.C. and J.G. Martland, for the defendant.

This case was heard at Calgary, Alberta, before FORSYTH, J., of the Alberta Court of Queen's Bench, Judicial District of Calgary, who delivered the following judgment on June 12, 1980: