Is a director of a corporation liable for deficiencies in management or supervision of the business and affairs of the corporation?

Ontario, Canada


The following excerpt is from McGrail v. Phillips, 2018 ONSC 3571 (CanLII):

It is noted that Bell v. Source Data did not concern a claim by a shareholder against a director for deficiencies in her/his management or supervision of the management of the business and affairs of the corporation, but rather concerned matters external to the corporation, in particular, whether a majority shareholder owed a fiduciary duty to the minority shareholder in relation to the sale by the majority shareholder of his shares to a third party at a price that was not available to the minority shareholder.

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