Directors’ and Officers’ Liability Claim Example – Supplier

Sunview Doors Limited v. Pappas 2010 ONCA 198, Released 16 March 2010, here – allegation of breach of contract for unpaid accounts following bankruptcy, but also an allegation of breach of trust against two directors and an office manager  “pursuant to the combined operation of s. 8 (statutory trust) and s. 13 (pi...
Posted: 10/28/2010 12:00:00 AM by Global Administrator

Directors’ and Officers’ Indemnification

Many D’s & O’s, (trustee, advisory board members, committee members, etc.) make the assumption they will be indemnified in the event of a lawsuit, and some rely entirely on the protection under statute, or their corporate bylaws. Indemnification language can be found in the OBCA, CBCA, other legislation or specific Acts (eg. Insu...
Posted: 10/26/2010 12:00:00 AM by Global Administrator

Class Actions, Lawyers E&O and Law Firm ODL

Will Lawyers’ E&O (aka Errors and Omissions or Professional Liability for Lawyers and potentially their firm) insurance and Law Firm Outside Directorship Liability (ODL) insurance (see former post) get more expensive in Canada? I would suggest that the recent certification of a few Ontario based class action claims should not...
Posted: 10/6/2010 12:00:00 AM by Global Administrator

Value of Communities and other Social Media, and Media / Advertising Risk

The value of Canadian electronic communities and other social media may be going up soon. The proposed legislation in Bill C-28 – the Fighting Internet and Wireless Spam Act (FISA) – will make some significant changes to the law. It will require consent for any email or text messages. Senders of electronic messages will be required t...
Posted: 10/3/2010 12:00:00 AM by Global Administrator

Reputational Risk

Economist Intelligence Unit, here, a division of The Economist, here, conducted a survey of 269 business executives representing 19 industries, and the result was Reputational Risk was the top of the list of 13 available categories, and ahead of Regulatory Risk, Human capital Risk, IT Network Risk, Market Risk, and Credit Risk, see&nbs...
Posted: 10/1/2010 12:00:00 AM by Global Administrator

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