Li v. Global Chinese Press Inc., 2014 BCCA 53
| Judge | Tysoe, Bennett and Goepel, JJ.A. |
| Court | Court of Appeal (British Columbia) |
| Case Date | January 29, 2014 |
| Jurisdiction | British Columbia |
| Citations | 2014 BCCA 53;(2014), 350 B.C.A.C. 66 (CA) |
Li v. Global Chinese Press Inc. (2014), 350 B.C.A.C. 66 (CA);
598 W.A.C. 66
MLB headnote and full text
Temp. Cite: [2014] B.C.A.C. TBEd. FE.031
Bolun Li (respondent/petitioner) v. Global Chinese Press Inc. (appellant/respondent)
(CA040756; 2014 BCCA 53)
Indexed As: Li v. Global Chinese Press Inc.
British Columbia Court of Appeal
Tysoe, Bennett and Goepel, JJ.A.
January 29, 2014.
Summary:
Global Chinese Press Inc. was a privately owned Chinese language newspaper that was published in both Vancouver and Toronto. Since May 2006, Li had been the registered owner of 50% of the Global's outstanding shares. In 2007 and again in 2008, Li signed a consent shareholders resolution waiving the appointment of an auditor. He did not, however, in subsequent years again waive the appointment of an auditor. In September 2012, Li filed a petition under ss. 145(1), 167(1) and 248 of the Canada Business Corporations Act seeking an order that Global provide audited financial statements for the years 2006-2011.
The British Columbia Supreme Court, in a decision reported at [2013] B.C.T.C. Uned. 700, allowed the petition, ordering that Global produce audited financial statements for the years 2009-2012. The order required that Global pay the costs of the audit; directed that its management and employees fully cooperate with the auditor and answer any questions the auditor might have; and provide the auditor with full access to all its records. Global appealed.
The British Columbia Court of Appeal dismissed the appeal.
Company Law - Topic 1742
Books and returns - Books - Financial statements - See paragraphs 1 to 15.
Cases Noticed:
Merrill v. Afab Security, [2007] O.T.C. Uned. 370 (S.C.), refd to. [para. 6].
Kiar v. Compas Inc., [2004] O.T.C. Uned. 642 (S.C. Master), dist. [para. 9].
Cosgrove v. L & C Canada Coastal Aviation Inc. et al., [2008] B.C.T.C. Uned. 610; 2008 BCSC 973, dist. [para. 9].
Statutes Noticed:
Canada Business Corporations Act, R.S.C. 1985, c. C-44, sect. 155(1), sect. 158, sect. 162, sect. 163, sect. 167 [para. 8].
Counsel:
D.L. Cayley, for the appellant;
D. Cowper, for the respondent.
This appeal was heard at Vancouver, B.C., on January 29, 2014, by Tysoe, Bennett and Goepel, JJ.A., of the British Columbia Court of Appeal. The following oral reasons for judgment were delivered by Goepel, J.A., on the same date.
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