Justice Shelley Fitzpatrick of the Supreme Court of British Columbia ruled in favour of the Rogers Communications heir on Friday afternoon, plus costs. The decision means Edward Rogers acted legally when he dismissed five corporate directors by written order, and that a new board can reinstate him as chair despite his family’s objections. The judge rejected Rogers Communications’ request for a stay of the ruling. (The Logic)
Talking point: The judge did not read her reasonings in court. The narrow legal question was whether the written resolution, which Edward Rogers issued as head of the family control trust, can take the place of a formal shareholders’ meeting. The drama that burst into public view after the sudden resignation of Rogers CFO Tony Staffieri in September has included sniping over Edward Rogers’s treatment of Raptors president Masai Ujiri and associations with Donald Trump, consideration of the dangers of butt-dialling amid corporate intrigue, and more sober discussion of the wisdom of dual-class share structures. Nor does the battle help Rogers in its efforts to acquire rival Shaw for $26 billion, or its credit rating, which Moody’s is eyeing as a “high” governance risk. Expect more fighting over Edward Rogers’s command of the family control trust.