Réal Bouclin will not have to pay more to buy out his ex-partner at Groupe Sélection Rémi Vigneault.
The Quebec Court of Appeal on Tuesday dismissed Mr. Vigneault’s appeal. He has been suing Mr. Bouclin since 2016 to get paid the 28.53% of Selection shares he held, under an agreement signed after his retirement.
In 2021, the Superior Court would conclude that the $13.8 million check given to Mr. Vigneault by Mr. Bouclin was too low. The former partner of the president of Groupe Sélection should have received 4.7 million more, a sum to which is added substantial interest.
By the time Mr. Vigneault appealed the case in July 2021, that amount was approximately $13.3 million. Dissatisfied, the complainant challenged the decision of the court of first instance, but the Court of Appeal considers that he did not err in his analysis.
Selection has been safe from its creditors since last November. Mr. Bouclin is trying to hold on to company assets that are currently up for auction.