Can a shareholder sue or be sued for losses suffered by a corporation?
British Columbia, Canada
The following excerpt is from Hovey v. Totzauer Holdings Ltd., 2011 BCSC 452 (CanLII):
While a shareholder cannot sue or be sued for losses suffered by a corporation, the rule in Foss v. Harbottle does not preclude a personal cause of action by a shareholder.
"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 majority shareholder of a corporation sue the directors of the corporation for personal losses? (British Columbia, Canada)
What is the range of damages for loss of enjoyment of life, pain, suffering and loss of amenities? (British Columbia, Canada)
What is the quantum of damages for loss of enjoyment of life, loss of exercise, and loss of access to facilities? (British Columbia, Canada)
Is the loss of a trial date, prolonging litigation, and associated difficulties and hardships that may be suffered by one or more of the parties suffer not factors that constitute “prejudice” in considering whether to grant the amendments? (British Columbia, Canada)
What is the range of damages for pain and suffering, loss of enjoyment of life and non-pecuniary loss of income? (British Columbia, Canada)
In assessing future loss of earning capacity for loss of past and future earning capacity, what is the test for a loss of future earnings allowance? (British Columbia, Canada)
Can shareholders of a corporation sue for losses incurred by the company? (British Columbia, Canada)
What is the quantum of damages for loss of enjoyment of life, loss of lifestyle, and loss of amenities? (British Columbia, Canada)
In what circumstances will the Director of Directors of a Corporation be able to claim that a claim against the Corporation is based on an allegation that the Corporation has not paid the Director a fair share of the proceeds of litigation? (British Columbia, Canada)
Does the rule in Foss v. Harbottle provide that shareholders of a corporation have a personal cause of action for wrong done to the corporation? (British Columbia, Canada)
