The Supreme Court of Canada this morning released its reasons for judgment in BCE Inc. v. 1976 Debentureholders, 2008 SCC 69. Oddly, this doesn’t yet appear to have received much coverage in the news sites. Perhaps we’re all eager to get home early and shovel our driveways?
Having not yet finished digesting the decision, I can’t say much. There’s a wealth of interesting and essential material here: a restatement of the directors’ fiduciary duty to the corporation, and the extent to which consideration of other stakeholders’ interests may enter into that duty; the “business judgment” rule; the obligation . . . [more]