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https://www.justice.gc.ca/eng/rp-pr/other-autre/c45/c45.pdf#:~:text=Criminal%20liability%20of%20directors%2C%20officers%20and%20employees%20Under,commit%20crimes%20that%20will%20benefit%20the%20corporation%2C%20or
https://www.cwilson.com/directors-and-officers-liability-in-canada/
Published June 2008. Historically, the main responsibility of directors and officers of Canadian companies was to act in the best interests of their company. Accordingly, their main duty was to maximize corporate profits, and the ability to attract personal liability was, to a large extent, minimal. Following a recent string of somewhat spectacular corporate scandals and …
https://www.fasken.com/en/knowledge/doing-business-canada/2021/10/10-directors-officers-liability
https://www.bflcanada.ca/directors-and-officers-liability-and-executive-risks/
DIRECTOR AND OFFICER ESTATE PROTECTION. Directors and Officers are personally liable for corporate statutory liabilities (e.g.: wages, withholding taxes, corporate taxes). This means that personal assets are at stake in the event that the organization cannot cover them in the normal course of its operations.
https://www.mondaq.com/canada/corporate-governance/74904/directors-and-officers-liability
Important developments have taken place in Canada over the past year regarding the potential for directors and officers to incur liability, specifically in the areas of (i) timely disclosure obligations; (ii) the duties of directors and officers in the context of a company that is up for sale; and (iii) the ability of directors and officers to receive indemnification payments …
https://www.mondaq.com/canada/directors-and-officers/534576/duties-and-liabilities-of-directors-and-officers
https://intrepidlaw.ca/2013/06/11/duties-and-liabilities-of-directors-and-officers-of-a-corporation/
Any director or officer that knew, or ought reasonably to have known of the illegal act may be personally liable. 5. Civil Liability. Directors and officers may be personally liable in civil court for actions they take that are outside of the scope of their duties – known in law as an “independent, actionable wrong.”
https://www.hg.org/legal-articles/liability-of-directors-in-canada-an-excerpt-30293
Directors, officers, and employees of limited companies remain protected from personal liability unless it can be shown that their actions are tortious or exhibit an identity separate from that of the company so as to make the act or conduct complained of their own.9 It is not yet clear whether a director or officer could be held liable for an unintentional tort.10 The legal standard …
https://www.aon.com/canada/products-services/risk/corporate/directors-officers.jsp
Directors’ and officers’ liablity insurance policy design. Aon’s Financial Services Group (FSG) will help you design and procure a directors’ and officers’ liability insurance policy that fits with your business, by identifying your corporate and personal exposures to liability. We then create a program that incorporates risk ...
https://www.ic.gc.ca/eic/site/cd-dgc.nsf/eng/cs06643.html
The officers of a corporation are responsible for the day-to-day operation of the corporation. Officers are appointed by the directors and, together with the directors, form the management of the corporation. Officers can fill any position in the corporation that directors want them to fill (president, secretary or any other position).
https://www.dlapiper.com/en/canada/insights/publications/2020/08/directors-and-officers-duties-in-canada/
Directors and officers of a corporation are generally protected from personal liability by the “corporate veil.” This means that the corporation is the legal “person” that is held liable, not the individuals tasked with managing and running the corporation. In exchange for the protection provided by the corporate veil, Canadian law imposes a wide range of duties on a …
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