RSS succeeds in having a $55-million legal responsibility declare dismissed earlier than the Supreme Courtroom

By | December 12, 2018

RSS succeeds in having a $55-million legal responsibility declare dismissed earlier than the Supreme CourtroomBy Katherine Delage, Nicholas J. Krnjevic and Ann-Julie Auclair, from our Insurance coverage Legislation Follow Group.
A company of which you’re a shareholder claims to have sustained vital damages which, in your view, had been brought on by the fault of pros. These damages and losses prompted the company’s chapter. Are you able to, as shareholder, sue the professionals to say compensation for the company’s damages?
No, the Supreme Courtroom of Canada dominated in Brunette v. Legault Joly Thiffault, s.e.n.c.r.l., 2018 CSC 55, launched on December 7. The Courtroom’s resolution was primarily based on two authorized rules:
A celebration must display a ample curiosity to file authorized proceedings
Shareholders don’t possess a proper of motion permitting them to say damages from professionals having rendered providers to the corporate during which they maintain shares.
Click on right here to learn extra (PDF).