‘Business judgment’ rule extends to condo boards, appeal court says
Condominium directors challenged in court by unit owners can take comfort from a unanimous Ontario Court of Appeal ruling that endorses curial deference and expressly extends the “business judgment” rule to condo boards. The business judgment rule, created in the context of for-profit businesses, applies to boards of condominium corporations, Ontario’s top court held for the first time: 3716724 Canada v. Carleton Condominium Corporation No. 375 2016 ONCA 650. Read the article………..
The insured’s claims against the strata corporation and the strata insurer were dismissed after a fire caused by a tenant’s
The Stage 2 Solutions Report on the Condominium Act review (the “Report”) identifies five key areas for improvement relating to