Is Proprietary entitled to sue for damages arising out of negligence?

British Columbia, Canada


The following excerpt is from Proprietary Industries Inc. v. CIBC World Markets Inc., 2002 BCSC 999 (CanLII):

In my view, the existence of a duty of care in this case must also overcome significant policy hurdles, including, on the particular facts of this case, the rule in Foss v. Harbottle (1843), 67 E.R. 189, that shareholders are not permitted to sue in an individual capacity for losses suffered by the company. Nonetheless, that issue was not canvassed before this court and I would decline to strike Proprietary’s pleadings on that basis.

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