What is the corporate opportunity doctrine and what is the test for liability?
British Columbia, Canada
The following excerpt is from Sateri (Shanghai) Management Limited v. Vinall, 2017 BCSC 491 (CanLII):
The corporate opportunity doctrine is a simple label for a complex construct. It derives from the evolvement of the fiduciary’s duty to avoid conflicts of interest and not to profit from the fiduciary office. The gravamen of the wrong and the fundamental basis of liability under the corporate opportunity rubric is that the fiduciary has permitted self‑interest for profit to collide with the heightened duties owed by virtue of his or her fiduciary stature: Canadian Aero v. O’Malley, 1973 CanLII 23 (SCC), [1974] SCR 592 [Canaero]
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