Need to Know
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The Peoples and BCE decisions have shed considerable light upon the parameters and criteria for the exercise of directors’ duties in Canada.
The purpose of this bulletin is to provide an update on:
- the nature and scope of directors’ duties and obligations;
- the identity of the creditors or beneficiaries of these duties and obligations;
- the influence of the factual context and nature of the recourses instituted on the first two points;
- the parameters for the exercise of these duties;
- some available precautions.