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fiduciary obligation

By Drache Aptowitzer LLP | 3 Minutes Read May 13, 2013

A fiduciary obligation does not (necessarily) a fiduciary make

Regular readers may recall the article we wrote on the topic of officer liability. There we commented on circumstances in which officers of corporations under the Canada Not-for-profit Corporations Act (CNCA) (whether continued to it or incorporated there) will be exposed to personal liability. Not long after that piece was written, an Executive Director of a corporation considering continuing to the CNCA who is an employee and not an officer in accordance with the corporation's by-laws, asked us if she would owe a fiduciary duty to the corporation under the CNCA. On reflection, we concluded that the new officer provisions in the CNCA create a statutory framework wherein employees could be held liable for a breach of the same duties that are applicable to directors of those corporations. We left, for the moment, the question as to whether these duties were "fiduciary" or not.

Article by Drache Aptowitzer LLP / Business, Finance and Accounting, Not for Profit / act honestly and in good faith, corporations, Due diligence, Duty of care, duty of loyalty on officers, fiduciary duty, fiduciary obligation, non-profit sector, non-profits, Not-for-profit Corporations Act, officer liability, personal liability, reasonably prudent person, risk management

By Earl Altman | 3 Minutes Read June 27, 2012

Lack of facts doesn’t keep a good judge down

In a recent decision from the Alberta Court of Queen's Bench, the judge considered the rights of an employer to claim compensation for an employee who had allegedly stolen a business idea. The facts of the case are not unique; indeed, they arise frequently in the give-and-take between employer and employee.

Article by Earl Altman / Employee Relations / Alberta, Breach of duty, breach of duty of confidence, confidential information, confidentiality, conflict of interest, duty of confidence, employment agreement, employment law, fiduciary duty, fiduciary obligation, Lac Minerals v. International Corona Resources Ltd., misappropriation of confidential information, reasonable man test, reasonable person, reasonableness

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