Facts: The dispute involves 0463382 B.C. Ltd. and Hornby Island Resort Ltd. over a property development project on Hornby Island. Four individuals, through their companies or personally, were shareholders in Hornby Island Resort Ltd. Disagreements arose over project management and financial contributions, leading to one shareholder's exclusion from the corporate decisions and the eventual sale of company assets to a newly formed company.

Issue: The main legal issue is whether the actions taken by the majority shareholders and directors of Hornby Island Resort Ltd., particularly the asset sale to a new company, were oppressive to 0463382 B.C. Ltd., excluding it from the corporate opportunity.

Court's Ruling: The court found that there were triable issues regarding the fairness and legality of the corporate actions taken, including the asset sale. It granted the application to convert the petition proceeding into an action, allowing for a more thorough exploration of the issues through traditional discovery processes in a trial.

Amount of Costs/Damages: The court ordered costs of the application in favor of the petitioner, 0463382 B.C. Ltd., but did not specify the exact amount of damages or costs to be awarded at this stage. The amount in dispute is significant, involving potential loss of corporate opportunity worth several hundred thousand dollars.