James Timothy White

[...] What is the Purpose of a Nominee Director? The purpose of a nominee director is the same as the role of an independent director. It is, essentially, to look after the [...]

[...] What Is a Nominee Director? A nominee director is a company director who has been nominated by a shareholder or a group of shareholders. [...]

[...] A Nominee Director and Champion for Your Corporation Does referring to a nominee director as a champion for your corporation sound like overblown rhetoric? Maybe it does, but the [...]

[...] one might expect from a reasonable person under the circumstances. Summary The duty of a nominee director for a Canadian company is not to be taken lightly. The director is expected to act loyally [...]

[...] . One important responsibility that no director can hand off is their fiduciary duty. Fiduciary Duties Directors of corporations aren’t the only ones with fiduciary duties. Just about anyone who [...]

[...] a vague concept, even lip service, there’s actually a whole legal concept built around it. Fiduciary Duties Legally, a fiduciary duty is a mandate to act completely in someone or something else’s [...]

[...] , when even one member falls out of concert, the results can be devastating. This is why fiduciary duties are such an important legal requirement of many who work for a corporation. It’s just as [...]

[...] you relay to them, even if it would mean a large profit. In many ways, the laws surrounding fiduciary duties are very much about enforcing contracts. However, they serve to cover those areas that may [...]

[...] either. For example, you’d have a hard time making the case that a director had a fiduciary duty to sell off some or all of their own shares to help the corporation. When a Corporation Goes [...]

[...] of the director is to the company as an entity, not to any shareholder or shareholder group. Fiduciary Duty Nominee directors have a fiduciary duty to the company, and that supersedes all other [...]

[...] service, there’s actually a whole legal concept built around it. Fiduciary Duties Legally, a fiduciary duty is a mandate to act completely in someone or something else’s interest. When it comes to [...]

[...] shareholder; the purpose of the director is exactly the same. Does a Nominee Director Have a Fiduciary Duty to the Nominating Shareholder? No. Let’s be perfectly clear – the nominee [...]

[...] the Fiduciary Responsibility of Those on the Board of Directors appeared first on James Timothy White. [...]

[...] you don’t. The post Important Considerations Before Buying a Business appeared first on James Timothy White. [...]

[...] decision. The post Questions to Ask a Seller Before Buying Their Business appeared first on James Timothy White. [...]

[...] ends up poorly. The post Why You Should Use a Broker to Buy a Business appeared first on James Timothy White. [...]

[...] is a company director who has been nominated by a shareholder or a group of shareholders. Nominee directors have increased in numbers over the past several years, probably in response to the enhanced [...]

[...] for your corporation sound like overblown rhetoric? Maybe it does, but the truth is that nominee directors are held to the same high standards as independent directors, and can be strong advocates [...]

[...] , by another corporation or by a consortium of companies, the owners will arrange for nominee directors to be appointed to the board of the newly acquired business. They may do so on the [...]

[...] law requires directors to exercise a certain level of skill, care and diligence. In Nominee Directors and Confidentiality: The Canadian Law Perspective by Jon Feldman, Michael Partridge [...]

[...] it shouldn’t disqualify the nominee shareholder from voting on matters in which the nominating shareholder has an interest. A nominee director should be presumed to act in accordance with their [...]

[...] . Does the Duty to the Company Change if the Nominee Director Is Employed by the Nominating Shareholder? No. Granted, there are two fiduciary duties operating here, but even in this situation, [...]

[...] his or her company’s interests. What Is the Relationship Between the Nominating Shareholder and the Director? Major shareholders who are looking to find a nominee director who [...]

[...] quick. Obviously something like buying stock in the competition is a pretty clear sign a corporate director may not be acting in the best interest of the company he sits on the board for. Other times, [...]

[...] directors, and can be strong advocates and promoters of the interests of your company. Canadian directors are held to very high standards in relation to their company. What Makes a Good Nominee [...]

The directors of major corporations certainly have a lot on their plate. In order to successfully run some of these juggernauts, they need to surround [...]

[...] doesn’t create conflict in and of itself, and it shouldn’t disqualify the nominee shareholder from voting on matters in which the nominating shareholder has an interest. A nominee [...]