News & Analysis as of

Personal Liability

The Supreme Court of Canada Clarifies the Personal Liability of Directors in Oppression Cases

by Bennett Jones LLP on

In Wilson v. Alharayeri, 2017 SCC 39 [Alharayeri], the Supreme Court of Canada in a unanimous decision provides significant guidance as to when directors ought to be held personally liable for oppressive conduct under the...more

Supreme Court of Canada reaffirms personal liability for directors in oppression actions

by Dentons on

On July 13, 2017, the Supreme Court of Canada (SCC) unanimously reaffirmed that a corporation’s directors may be personally liable in an oppression action, and set out the criteria for imposing personal liability. In Wilson...more

Review of amendments to the insolvency legislation

by White & Case LLP on

This review concerns a number of amendments to Federal Law “On insolvency”1 (the “Law”) introduced by federal laws No. 222-FZ2 and No. 488-FZ3, and the interpretation of the amendments in the Review of Court Practice on...more

Personal Liability Under Canada's Anti-Spam Law

by Bennett Jones LLP on

Under Canada's Anti-Spam Law (CASL) not only may a corporation that fails to comply be liable to pay a monetary penalty but personal liability may also arise. Section 31 provides that "An officer, director, agent or mandatary...more

Third Party Claims Against Trustees: Resolving Competing Claims Over Trust Assets

by Sedgwick LLP on

For professional trustees and their insurers, the ability to obtain an indemnity from trust assets in the face of a claim against a trustee by a third party is obviously of critical importance, insulating the trustee from...more

Exculpatory Provisions Under Delaware Law: Say What You Mean And Mean What You Say

Exculpation provisions in operating agreements must be carefully crafted in order to protect members, managers, directors and officers for breaches of fiduciary duties...more

Statutory Parental Liability For Acts Of Minor Children

by Cozen O'Connor on

Statutory Parental Liability For Acts Of Minor Children [Jurisdictions Comparative Chart] - ALABAMA - Parents, guardian, or other person having care or control over minor liable for all damages caused by the intentional...more

Nevada’s Constitutional Limitation On Shareholder Liability

by Allen Matkins on

Article 8, Section 3 of the Nevada Constitution provides: Dues from corporations shall be secured by such means as may be prescribed by law; Provided that corporators in corporations formed under the laws of this State...more

Germany Permits Automated Vehicles

by White & Case LLP on

On 21 June 2017, Germany enacted a bill legalizing automated vehicles ("AV Bill"). The AV Bill modifies the current Road Traffic Act and defines the requirements for highly and fully automated vehicles to use public roads. It...more

Startup Real Estate Tip: The 'Good Guy' Guaranty - Slow Down a Second

by JD Supra Perspectives on

If you are contemplating agreeing to execute a good guy guaranty, you must both be in control and be totally immune from being fired. Otherwise...more

Delaware Chancery Court Dismisses Caremark Claim For Failure To Adequately Allege That The Board Consciously Disregarded FCPA...

by Shearman & Sterling LLP on

On June 16, 2017, Vice Chancellor Tamika Montgomery-Reeves of the Delaware Court of Chancery dismissed breach of fiduciary duty and other claims brought derivatively against the directors and former chief financial officer of...more

The Enforcement Risks for Medicare Advantage Plans Continue: A New False Claims Act Settlement in Florida

Recent activities of the Department of Justice (“DOJ”) and Qui Tam whistleblowers reveal that Medicare Advantage Plans remain at the forefront of investigations for violations of the federal False Claim Act (“FCA”) for...more

Personal liability for false and misleading statutory declarations (and supporting statements) - Fancy putting your home on the...

by Dentons on

The Federal Court in 470 St Kilda Road Pty Ltd v Robinson has found that the declarant of a statutory declaration as to a contractor’s payment of subcontractors, workmen and insurances personally liable under the Australian...more

FCPA Compliance Report-Episode 329, James Koukios

by Thomas Fox on

Today I have back with me James Koukios, partner and Morrison Foerster on the firm's March 2017 report on the Top Ten International Anti-Corruption Developments for the month. We highlight the 2nd Circuit Court of Appeals...more

Until You're the Unicorn, Protect Yourself: Tips on Personal Guarantees

by Davis Brown Law Firm on

One of the first steps in any business venture is for the founder to form a business entity separating their personal assets and liabilities from the business assets and liabilities of the new company. Without this...more

Sweeping Changes to the Missouri Human Rights Act – Back to the Mainstream

by Lathrop Gage on

For more than a decade, employment discrimination plaintiffs in Missouri have benefited from a lower burden of proof than plaintiffs in federal court or other states. With no statutory cap on compensatory and punitive...more

Supervisor’s Personal Liability for Harassment

A recent case filed in the Waterbury superior court, Denault v. Community Mental Health Affiliates, et al, alleging an unfortunately familiar pattern of sexual harassment in violation of the Connecticut Fair Employment...more

Private Equity and the New Trump Administration: Your Top Ten Questions Answered

by Foley & Lardner LLP on

The election of President Trump contained some positive signs for Private Equity (PE) fund managers. These included potential lower corporate taxes, a ten-percent tax holiday for funds parked overseas, large infrastructure...more

Green Bonds – An Introduction

by White & Case LLP on

Since their introduction in 2007, Green Bonds issuances have exponentially increased in volume and have become part of the lexicon of environmental finance. Simply defined, Green Bonds raise funds for new and existing...more

New Administrative Penalties Against Individuals and Private Companies as Part of Mexico's Fight Against Corruption

by White & Case LLP on

On July 19, 2017, Mexico's new General Law on Administrative Accountability will take effect, imposing serious penalties on individuals and private companies that violate it, and requiring companies to adopt and implement...more

Liability for Directors of Nonprofit Corporations

Lawyers are often asked to serve on Boards of nonprofit corporations and if they do so, they will often be asked by other directors about the potential individual liability of a director for actions of the nonprofit, for...more

Not just any Canada Day – Important CASL changes in effect on July 1, 2017

by DLA Piper on

Canada’s anti-spam law (CASL) came into effect on July 1, 2014. Almost three years later, Canadian businesses and their lawyers are still grappling with CASL compliance issues and trying to understand how CASL’s broad and...more

Texting and Driving – The Evolving Theories of Liability

Distracted driving has become one of the leading causes of motor vehicle accidents and fatalities in the United States. In 2014 alone, Pennsylvania saw more than 13,964 crashes involving a distracted driver, including 49...more

SEC Reduces Whistleblower Bounty Based On Culpability And Delayed Reporting

On February 28, 2017, in an Order almost entirely devoid of detail, the SEC announced that a whistleblower will receive 20% of any monetary sanctions collected in an enforcement action commenced as a result of the...more

Auto Dealership Liability for Accidents Occurring During Test Drives: How to Protect Your Dealership

by Jaburg Wilk on

Prospective car buyers are no different than the drivers we encounter daily on the road: some are skilled, some are not so skilled. Add to that the prospective buyer’s unfamiliarity with the vehicle they are test-driving,...more

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