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Hospital CEO Kevin Smith had shares worth nearly $1.6 million in the mortgage company he chairs before stocks plummeted in April amid
stanley cup allegations senior executives misled investors.The value of his Home Capital shares had dropped to roughly $360,000 when a health pension fund he was on the board of bailed out the struggling company with a $2 billion line of credit. The cash infusion from the Healthcare of Ontario Pension Plan HOOPP came with a 22.5 per cent interest rate on the first $1 billion borrowed.He should not have been on both boards, said Richard Leblanc, associate professor of law, governance and ethics, at York University. It a clear conflict. ARTICLE CONTINUES BELOW Smith resigned from the HOOPP board after the deal was announced Thursday.He remains chair of Home Capital board, making $357,500 in 2016 which was paid entirely in deferred share units. ARTICLE CONTINUES BELOW His $1.6 million worth of shares in December was at least three times higher than other board members who had stock ranging from $76,000 to $454,681.When you start hitting $1.5 million then it is entirely appropriate to raise the question of whether your investment is compromising your fiduciary duty, said Leblanc. That is
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stanley cup t of money for any director 鈥?It not necessarily a conflict but certainly questions should be ask Inuj Morning edition for Sept. 5: Our top stories include celebrating International Literacy Day at Halton Hills library Sept. 8 and all year round
OTTAWA 鈥?The ability to express oneself helps create a healthy democracy, the Supreme Court of Canada said Thursday in setting out rules for deciding when a lawsuit has merit or is intended simply to quell participation in matters of public interest.The detailed guidance came as the high court ruled on two Ontario cases that involved speaking out on issues of public significance.Strategic lawsuits against public participation 鈥?known as SLAPPs 鈥?are levied against people or organizations that take a position on an issue, with the aim of limiting their free speech. ARTICLE CONTINUES BELOW In response to a spate of such cases, Ontario, British Columbia and Quebec have enacted laws to curb them. Both matters before the Supreme Court entailed the application of Ontario Protection of Public Participation Act, which took effect five years ago
stanley cup .The law places an initial burden on the defenda
stanley termohrnek nt in a lawsuit to satisfy a judge that the proceeding arises from an expression relating to a matter of public interest, which should be interpreted in a generous and expansive fashion, Justice Suzanne Cote wrote on behalf of the court. ARTICLE CONTINUES BELOW The burden then shifts to the plaintiff, who must show there are grounds to believe the lawsuit has substantial merit and the defendant has no valid defence, she n
stanley cup quencher oted. The plaintiff must also demonstrate that the harm suffered,
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