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Directors' liability under the Business ... - Ontario.ca

    https://www.ontario.ca/page/directors-liability-under-business-corporations-act
    Mar 27, 2019 · Directors of a corporation are jointly and severally liable to the employees of the corporation for all debts not exceeding six months’ wages and up to 12 months’ vacation pay (Section 131). Every director must act honestly and in good faith with the best interests of the corporation in mind when exercising powers and discharging duties (Section 134(1)).

Director & Officer Liability: 8 Tips for Protecting Your ...

    https://www.lerners.ca/lernx/director-officer-liability-8-tips-for-protecting-your-personal-assets/
    Mar 31, 2012 · It is still a basic principle in our corporate law that employees, officers and directors are not personally responsible for the debts of a corporation. All business corporation statutes, however, impose a standard of conduct upon directors and officers and if directors or officers fall below that standard they will be exposed to personal liability.

Liability of directors, officers, and shareholders - FREE ...

    https://www.legalline.ca/legal-answers/liability-of-directors-officers-and-shareholders/
    Liability of directors, officers, and shareholders. Region: OntarioAnswer # 226. AlbertaBritish ColumbiaManitobaNew BrunswickNewfoundland & LBDRNorthwest TerritoriesNova ScotiaNunavutOntarioPrince Edward IslandQuebecSaskatchewanYukon. One of the main benefits of the corporate form of business is that the shareholders, directors and officers of a corporation are not usually held personally responsible for the debts and obligations of the corporation.

Best Toronto, Ontario Director and Officer Liability ...

    https://www.bestlawyers.com/canada/ontario/toronto/director-and-officer-liability-practice
    The practice area of Director and Officer Liability focuses on the liabilities of directors and officers arising out of their duties and responsibilities as directors and officers of business corporations and non-profit organizations.

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