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Inside Internal Controls

News and discussion on implementing risk management

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shareholders rights

Your business and your will – Shareholders’ agreements

A Shareholders’ Agreement is a very important component of any business owner’s succession plan.

 

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Being accountable: Fiduciary duties and the business judgment rule

On July 10, 2014, the Ontario Court of Appeal released an important decision regarding corporate governance and shareholders rights. In the case between Unique Broadband Systems Inc. and its former CEO and director, Gerald McGoey, the Court of Appeal clarified the fiduciary obligations on the part of officers and directors of both private and public companies as well as the limitation on the business judgment rule that limits a Court from “second guessing” decisions of management.

 

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