Business judgment rule does not trump unanimous shareholders’ agreement
January 14th, 2010 | By Michael Osborne | Posted in Commercial Litigation, Disputes within Companies and Partnerships, Employment Litigation, Wrongful Dismissal
Directors of a corporation cannot invoke the business judgment rule to justify decisions that violate a unanimous shareholders’ agreement, the Ontario Divisional Court held recently.
Directors of a corporation cannot invoke the business judgment rule to justify decisions that violate a unanimous shareholders’ agreement, the Ontario Divisional Court held recently.