When you commit to becoming a Director of a company in Ontario, you should know the ways in which various statutes can create personal liability for you following certain omissions or breaches of the company’s obligations. These statutes include the Canada Business Corporations Act (CBCA) and the Business Corporations Act in Ontario. The federal Income […]
Category Archives: Professional Liability
Professional Negligence: The Standard of Care Expert Evidence on a Summary Judgment Motion
The tort of negligence requires a plaintiff to allege and prove four elements. They are 1) a duty of care, 2) a breach of the standard of care, 3) injury caused by the breach and finally, 4) the damages suffered as a result. In many cases, some or all of these elements are obvious and […]
Assessing Damages After An Insolvency
The measure of damages is determined by using the formulae, Loss (L) = Actual Liquidation Deficit (ALD) – Estimated Liquidation Deficit (ELD). The ALD is usually easily determined and agreed upon-it represents the losses suffered at the time of the liquidation of the business’s assets. The ELD is simple in theory but invariably in dispute […]