Page 14 - CCCA Magazine Spring 2014

{ ENVIRONMENTAL LAW } “ Many boards are organizing to persuade personal liability on directors, neither was Ontario’s s.18. Now that Ontario is going after D&O, other provinces may be governments that absolute personal tempted to do the same. comply, out of their own pockets — mon- ” suade their governments that absolute CLEAR INFORMATION. SOLID RESULTS. So, now what? Many corporate boards environmental liability, regardless of and their advisors are organizing to per- fault, is bad policy and bad law. personal environmental liability, regard- less of fault, is bad policy and bad law. Meanwhile, some boards are improving their D&O insurance, perhaps through not stayed pending appeal, the D&O were broadly worded Side A DIC policies. Oth- MNP’s Valuation, Forensics & Litigation Support Services paying more than $100,000 per month to ers have a sharper interest in understand- ing historic soil and groundwater con- ey they could probably not recover even tamination on corporate properties, with As a legal professional, there is no room for error or surprise when your organization is relying on you. With more than 75 dedicated professionals across the country, our Valuation, Forensic & Litigation if they won. Under this burden, the D&O government sign off, such as a Record of Support Services team can help you deliver solid results for your organization in the face of any agreed to a $4.75M settlement. Site Condition, where possible. And com- dispute or uncertainty, including: Could this happen to charities? Yes, it is panies considering insolvency may use a just a question of government discretion plan of arrangement, rather than a court- • Executive fraud and misconduct — the same discretion that has led some approved sale. • Commercial disputes and litigation provinces to prosecute and fne charities But the simplest answer may be to turn for problems with their sewage systems, away from potentially contaminated real • Privacy and data breaches diverting hard-won charitable funds from estate in Ontario until the law is fxed. ❚ • Corruption and regulatory investigations underprivileged children to the Consoli- • Fairness opinions and transaction due diligence dated Revenue Fund. Could this happen in other provinces? Dianne Saxe is one of Canada’s top-ranked environ- Contact Greg Draper, Vice President, Valuations, Forensics & Litigation Support at 1.877.500.0792 Similar powers to issue administrative mental lawyers, according to numerous Canadian or greg.draper@mnp.ca and foreign rating services, and the only practitio- environmental orders exist across the ner with a Ph.D. in environmental law. Follow her country. While they may not have been blog at www.envirolaw.com. She can be reached drafted with the intention of imposing at dsaxe@envirolaw.com. 14 CCCA MAGAZINE | SPRING 2014 PRINTEMPS