Okey Ejibe writes on CBA National on corporate opportunity waivers and the increased risk of putting directors in conflicts of interest.
He says, "Alberta is the first Canadian jurisdiction to allow for corporate opportunity waivers, similar to several U.S. jurisdictions where corporate opportunity waivers are permitted."
"The waiver of business opportunities under Bill 84 is made subject to regulations which set safeguards to address potential conflicts of interest, including the power of the corporation to modify or revoke a waiver. Unfortunately, the safeguard raises a host of issues which threaten to increase uncertainty and disputes and may undermine Alberta corporations' ability to pursue actual conflicts, and may undermine the fiduciary relationship itself."
The full article can be found on the CBA National website.
Bennett Jones