In our earlier posts, we focused on the use of a constructive trust as
a remedy for breach of fiduciary duty and third party fraud liability.
This post discusses the finding by the Court of Appeal that it was inappropriate for the application judge to have granted a constructive trust as
a remedy for breach of fiduciary duty.
The appeal judge found that the arbitrator erred by failing to apply the principles that inform
the remedies for breach of fiduciary duty when deciding on entitlement to bonus money.
Not exact matches
This right
of action does not represent a separate category
of director liabilities, but start - up founders should be sensitive to the
remedy's availability as a tool
for stakeholders to make allegations
of breaches of fiduciary duties and
duties of care.
In its decision, the Federal Court
of Appeal considered four issues: whether the Colony
of British Columbia had
breached its pre-emption legislation; whether the Colony had
breached a
fiduciary duty by allowing the village lands to be settled; Canada's liability
for the Colony's
breaches under the Specific Claim's Tribunal Act; and whether Canada's post-Confederation allotments
of Band reserves
remedied any potential
breaches and fulfilled any possible
fiduciary duties owed.
Clifford acts in most types
of commercial and insolvency litigation including Pre-emptive
remedies, Minority Shareholder Actions, claims against Directors
for breach of duty, claims for Unjust Enrichment or for Breach of Fiduciary duties, Shareholder Disputes, Partnership Disputes, claims under the Commercial Agents Directive, Directors» Disqualifications, actions for Breach of Confidence and Database Rights and proceedings to enforce Restraint of Trade Cove
breach of duty, claims
for Unjust Enrichment or
for Breach of Fiduciary duties, Shareholder Disputes, Partnership Disputes, claims under the Commercial Agents Directive, Directors» Disqualifications, actions for Breach of Confidence and Database Rights and proceedings to enforce Restraint of Trade Cove
Breach of Fiduciary duties, Shareholder Disputes, Partnership Disputes, claims under the Commercial Agents Directive, Directors» Disqualifications, actions
for Breach of Confidence and Database Rights and proceedings to enforce Restraint of Trade Cove
Breach of Confidence and Database Rights and proceedings to enforce Restraint
of Trade Covenants.
«One could scarcely imagine a more correspondent set
of remedies as damages
for fraudulent
breach of contract and equitable compensation
for breach of fiduciary duty in relation to the same factual situation.»
Accordingly, if the officers or directors act in an unauthorized manner, the unit owners should seek a
remedy through elections or, if factually supported, in an action
for breach of fiduciary duty.