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04 Nov 09
Peoples Department Stores Inc. (Trustee of) v. Wise, 2004 SCC 68, [2004] 3 S.C.R. 461
directors owe a duty of care to creditors, but that duty does not rise to a fiduciary duty
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Section 241 of
the CBCA provides a possible mechanism for creditors to protect their interests
from the prejudicial conduct of directors. In our view, the availability
of such a broad oppression remedy undermines any perceived need to extend the
fiduciary duty imposed on directors by s. 122(1)(a) of the CBCA to
include creditors
23 Oct 09
Galambos v. Perez, 2009 SCC 48 (CanLII)
The critical point is that in both per se and ad hoc fiduciary relationships, there will be some undertaking on the part of the fiduciary to act with loyalty.
16 Jul 08
Farm Credit Canada v. Andrew, 2005 SKQB 197 (CanLII)
it is plain and obvious that the assertion of a universal fiduciary relationship between Farm Credit Canada and farmer borrowers could not be sustained
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it is plain and obvious that the assertion of a universal fiduciary relationship
between Farm Credit Canada and farmer borrowers could not be sustained -
[10]
Under the provisions of The Saskatchewan Farm Security
Act the right of a lender to recover the unpaid balance of a mortgage
securing the purchase price of farmland is restricted to the land to which the
mortgage or agreement relates as well as to any collateral security including a
guarantee
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