Can a director of a company decline a corporate opportunity?
Alberta, Canada
The following excerpt is from Evans v. Anderson, 1977 ALTASCAD 60 (CanLII):
In Peso Silver Mines Limited v. Stanley E. Cropper 1966 CanLII 75 (SCC), [1966] S.C.R. 673 the claimant company declined a corporate opportunity. The company was not allowed to assert it as a trust res at a later date when a director (who had properly discharged his duty in respect of the offer to the company which constituted the corporate opportunity) acquired with others the opportunity and turned it to advantage.
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