Business judgment rule does not trump unanimous shareholders’ agreement
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. Full article
Oppression does not guarantee relief
In Hu v. Sung, Superior Court Justice David Brown confronted the question of what to do when a shareholder in a private corporation has wrongfully excluded another from the affairs of the company, but by the time of trial the company has ceased operations, has not turned a profit and there is no evidence the offending shareholder personally benefited from the oppression. Full article
Regulation of businesses in Canada through private litigation
Regulation - Court decisions arising from private litigation under the common law (in Quebec, the Civil Code), and statutory remedies that supplement the common law, are an essential and often overlooked component of the regulation of businesses in Canada. Full article
The cross-border woes of Conrad Black – the dilemma of differing approaches to self-incrimination in Canada and the US.
Conrad Black and other officers and directors of Ravelston must attend to be examined under oath, even though there is a risk that their evidence could be used against them [...] Full article
