1 edition of Directors and officers duties and liabilities found in the catalog.
These materials were planned and organized for the program held in Toronto on Monday, December 9, 1991.Includes bibliographical references.
|Statement||Law Society of Upper Canada, Dept. of Education|
|Publishers||Law Society of Upper Canada, Dept. of Education|
|The Physical Object|
|Pagination||xvi, 97 p. :|
|Number of Pages||76|
nodata File Size: 3MB.
Approve annual financial statements 5• If you hold shares of the company, do so as a long-term investment, and minimize trading in order to avoid the appearance of insider trading• Overview In the wake of high profile cases like the recent James Hardie decision, Centro and Fortescue Metal Groups, company directors and officers are left wondering what is next. Standard of Care A member of the board of directors or a committee must act in good faith in the manner he or she believes to be in the best interests of the corporation, and with the care, including reasonable inquiry, that an ordinary prudent person in a like position would use under similar circumstances.
Previously he was also a partner of Gadens Lawyers and Piper Alderman Lawyers.
With that power comes responsibility and risk, however. Unless specifically delegated under articles, officers cannot:• 33 Unlike some of the other obligations of the directors and officers, the duty of care cannot be delegated.
Issues covered include: Directors, Officers and Corporate Litigation, Hayne Royal Commission, Defamation, Creditors, Insolvency Law Reform, ipso facto, Insolvency Law Reform Act 2016, Trusts Minority Shareholder Disputes with a Corporate Trustee, Mental Health, Contingency Fees, Litigation Funding and Class Actions, Ethical Professional Conduct.
Ensure indemnity is set out in articles or separate indemnity agreement! This refers to instances where the court acknowledges that they are not experts in business and instead the court will show deference to the corporation. You can be wrong, but the process must be right.
15 Further, the corporation or its directors are not allowed to set an "easier" standard for fiduciaries than the one found in the statute.