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A Focus on Director’s Indemnity Rights - the Bennett Decision

April-28-2009

Area Corporate Finance and Securities

Summary

The recent decision of the Ontario Court of Appeal in Bennett v. Bennett Environmental Inc. in certain respects will be a comfort to directors of public issuers, and in other respects highlights issues that should cause directors to not take indemnification for granted.  In a period of challenging markets and increasing litigiousness the case is a reminder of the significance of indemnity rights.

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