Can shareholder of a company take action against the person who causes damage to the company?
Alberta, Canada
The following excerpt is from Bank of Montreal v. Jarjoura, 2010 ABQB 103 (CanLII):
The shareholder of a company has no action against the person who causes damage to the company: Houle v. National Bank, 1990 CanLII 58 (SCC), [1990] 3 S.C.R. 122 (S.C.C.).
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
Can a party to an action extend the action by unilateral action, when nothing has been done to materially advance the action for five years or more? (Alberta, Canada)
In what circumstances can a shareholder in a company with a memorandum of intent and a shareholder's vote of no confidence in the company's general law? (Alberta, Canada)
What is the test for a plaintiff to bring an action against the owner of the premises for damages caused by the owner’s negligence? (Alberta, Canada)
What is the quantum of damages for a plaintiff in a personal injury action? (Alberta, Canada)
Is some damage sufficient for a cause of action to arise and a limitation period to start run? (Alberta, Canada)
Does a person who makes a false statement have to make good the damage caused by the false statement? (Alberta, Canada)
Can a business interruption policy insures against loss resulting directly from necessary interruption of business caused by damage to or personal property? (Alberta, Canada)
Is there a cause of action for damages arising from the date of time running out? (Alberta, Canada)
What is the test for a shareholder to bring a derivative action against a company? (Alberta, Canada)
What is the legal test for damages for damage caused by a breach of the law by a party to a property? (Alberta, Canada)
