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Inside Internal Controls

News and discussion on implementing risk management

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separate legal entities

The Crown pierces the corporate veil: Court imposes liability on individual for fines imposed against a corporate defendant

An Ontario Court has revolutionized the law with respect to whether an individual can be held personally liable for fines imposed against the corporation for breaches of regulatory legislation.

 

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Credit-proofing charity assets

Most charities and not-for-profit organizations are incorporated as non share capital corporations. These corporations are considered separate legal entities from their members or directors. This ‘separateness’ protects the members (and to a large extent directors) from being personally liable in the event the organization finds itself liable for damages as a result of a court finding.

 

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