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(Download) "BCE Inc. V. 1976 Debentureholders: The New Fiduciary Duties of Fair Treatment, Statutory Compliance and Good Corporate Citizenship?(Canada)" by Ottawa Law Review ~ Book PDF Kindle ePub Free

BCE Inc. V. 1976 Debentureholders: The New Fiduciary Duties of Fair Treatment, Statutory Compliance and Good Corporate Citizenship?(Canada)

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eBook details

  • Title: BCE Inc. V. 1976 Debentureholders: The New Fiduciary Duties of Fair Treatment, Statutory Compliance and Good Corporate Citizenship?(Canada)
  • Author : Ottawa Law Review
  • Release Date : January 22, 2010
  • Genre: Law,Books,Professional & Technical,
  • Pages : * pages
  • Size : 336 KB

Description

Directors' fiduciary duties oblige them to act in the best interests of the corporations they serve, but the interests of a corporation are not monolithic, and the question of how directors should balance the various competing interests of the constituencies that comprise a modern corporation has been the subject of considerable debate throughout the common law world. In Canada, this question is often raised in conjunction with a consideration of the oppression remedy, as it was in the BCE case, where the Supreme Court of Canada took the opportunity to comment on this important and relatively neglected area of Canadian corporate law. This comment is critical of a number of aspects of the Court's discussion of directors' fiduciary duties, particularly its interweaving of the oppression remedy with fiduciary obligations and its expansion of traditional conceptions of directors' fiduciary duties through the introduction of such novel and virtually unexplained elements as the "fair treatment" component, a duty to ensure that the corporation meets its statutory obligations, and a duty to ensure that the corporation is a "good corporate citizen." Concerns regarding doctrinal precision aside, such an expansion of directors fiduciary duties, are not without consequence. This comment discusses the practical need for certainty in this area of law and presents a number of policy arguments against the expansion of directors' duties without a careful analysis of legal rationales and consequences. De par ses obligations fiduciaires, l'administrateur est tenu d'agir au mieux des interets de la societe qu'il sert. Les interets d'une societe n'etant toutefois pas monolithiques, la question de savoir comment les administrateurs devraient concilier les interets conflictuels des diverses composantes qui forment une societe moderne a fait l'objet d'un vaste debat dans es ressorts de common law. Au Canada, cette question se pose en general lorsqu'il s'agit d'exammer le recours en cas d'abus, comme ce rut le cas dans l'affaire BCE, a l'occasion de laquelle la Cour supreme du Canada a commente ce secteur important mais relativement neglige du droit canadien des societes. Dans ce commentaire, on critique un certain nombre d'aspects de la discussion de la Cour a propos des obligations fiduciaires des administrateurs, en particulier l'enchevetrement entre le recours en cas d'abus et les obligations fiduciaires et l'expansion des conceptions traditionnelles des obligations fiduciaires de l'administrateur par l'introduction des e1ements aussi inedits qu'obscurs que sont l'obligation de traitement equitable, le devoir de veiller a ce que la societe s'acquitte de ses obligations 1egales et celui d'agir en tant qu'entreprise socialement responsable . Hormis les reserves relatives a la precision doctrinale, un tel developpement des Obligations fiduciaires de l'administrateur n'est pas sans consequence. Dans le cadre de ce commentaire, on discute de la necessite pratique d'etablir une certitude dans ce secteur du droit et on presente un certain nombre d'arguments strategiques contre l'accroissement des obligations des administra teurs de societes jusqu'a ce qu'on ait procede a une analyse rigoureuse des justifications et consequences juridiques d'un tel changement.


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