Peoples Department Stores Inc. (Trustee of) v. Wise, 3 S.C.R. 461, 2004 SCC 68, is a major Supreme Court of Canada decision on the scope of the fiduciary duty upon directors and officers of a corporation. When examining the duty of directors under section 122(1) of the Canada Business Corporations Act (CBCA), the Court held that there is a distinction between the interests of the corporation and those of the stakeholders and creditors.
Read more about Peoples Department Stores Inc. (Trustee Of) V. Wise: Background, Opinion of The Court
Famous quotes containing the words peoples, department, stores and/or wise:
“Only the history of free peoples is worth our attention; the history of men under a despotism is merely a collection of anecdotes.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“The African race evidently are made to excel in that department which lies between the sensuousness and the intellectual—what we call the elegant arts. These require rich and abundant animal nature, such as they possess; and if ever they become highly civilised, they will excel in music, dancing and elocution.”
—Harriet Beecher Stowe (1811–1896)
“When their stores are full, idiots are considered wise.”
—Punjabi proverb, trans. by Gurinder Singh Mann.
“nat every wight he sholde go selle
Al that he hadde and yive it to the poore,
And in swich wise folwe him and his fore:
He spak to hem that wolde live parfitly—
And lordinges, by youre leve, that am nat I.”
—Geoffrey Chaucer (1340?–1400)