Rules for Election of Directors of TSX Listed Entities

A new rule comes into effect for 2013 for TSX listed companies. Such entities will be required to vote on individual people, (not by slate), on an annual basis (not staggered), and communicate election practices regarding director voting. This looks like just another compliance requirement for an overburdened administration team, because I cann...
Posted: 11/1/2012 11:09:46 AM by MSI

Corporate Indemnification and Directors’ and Officers’ Liability in Canada

There is not a lot of Canadian precedent regarding corporate indemnification of directors and officers, and therefore, I would like to bring your attention to Jolian Investments Limited v. Unique Broadband Systems Inc., 2011ONSC3241, here. Some may consider this a win for directors and officers, because Marrocco, J., held that the corpor...
Posted: 5/25/2012 9:20:24 AM by MSI

Asked to be on a Board of Directors?

What are the next steps? Personal contractual indemnification from the corporation (don’t just rely on the bylaws),   Determine biggest risk from the operations and make sure they are adequately insured and other risk management tools are in place and active for these exposures,   Request a copy of the ...
Posted: 5/18/2012 2:44:41 PM by MSI

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