Is there a fiduciary relationship between a director of a private equity company and the director of the company?

British Columbia, Canada


The following excerpt is from Pan Pacific Recycling Inc. v. So, 2006 BCSC 1337 (CanLII):

Moreover, looking at the “rough and ready” guide in Frame v. Smith, as it has been referred to, the elements that would make him a fiduciary are absent. Mr. So did not have the power or discretion to affect the companies’ legal or practical interests, nor was it demonstrated that the company was particularly vulnerable or at the mercy of Mr. So.

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