Directorship: Don’t take it lightly

Directors are the stewards or caretakers of a corporation.  As stewards, they must carry out their duties with honesty, good faith, care, diligence and skill.  Directors who fail to do so, can be held personally liable – whether it be for the debts and financial losses of the corporation, or for illegal acts carried out…

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The Oppression Remedy vs The Derivative Action: Which is Right for Your Wrong?

When wronged, minority shareholders (and other appropriate stakeholders) can face an uphill battle when confronted by the dual shields of corporate personality and majority rule, both of which protect corporations and those with a majority, decision-making interest in them. Under both the Ontario Business Corporations Act and the federal Canada Business Corporations Act, however, two…

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Vacation Entitlement: It’s No Picnic to Calculate

Vacation entitlement is twofold: vacation time and vacation pay. At minimum, employees are entitled to two weeks of vacation time after each entitlement year and, regarding vacation pay, are entitled to at least four per cent of their gross wages earned in the vacation entitlement year. While an employee who does not complete the full entitlement year…

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Not Worth the Paper They’re Written on or Worth Their Weight in Gold: The Value of Unenforceable Judgments

After making a claim and completing all of the necessary procedural steps that go along with pursuing it, and after finally obtaining judgment, a Plaintiff may expect to be promptly paid by his, her or its debtor(s). Unfortunately, that payment is not always made willingly. While obtaining judgment may end the dispute over liability, it may…

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Condoning Bad Behaviour: Theft Not Cause For Termination Without Notice

The Employment Standards Act prohibits an employer from terminating an employee without providing the employee with appropriate notice, or pay in lieu of notice. There are certain circumstances, however, in which neither notice nor termination pay are required. The Act and its associated Termination and Severance of Employment Regulation provide that an employee who is guilty of serious, wilful…

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