
Legal Blog:
Indemnification
Corporate lawyers often insert an indemnification provision in their basic corporate bylaws. This indemnification provision can come back to haunt the original controlling shareholder(s). The decision in Med-Chem Health Care Ltd. v. Misir (1990) 103 O.R. (3d) 769 (C.A.) demonstrates how.
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There is always a tension between family law and debtor and creditor law. When does the family law creditor, usually a spouse and usually the wife, jump the queue and when is the spousal creditor lumped in with all of the debtor’s other creditors? We know that when a family law award is for maintenance of the spouse, the spouse has a bankruptcy priority over other creditors (see newsletter of August 2007). But what happens when a spouse has received an equalization payment award? That issue was covered in Thibodeau v. Thibodeau, a 2011 decision of the Ontario Court of Appeal.
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