Fiduciary duty in Canadian corporate law
In Canada, directors of corporations owe a fiduciary duty. A debate exists as to the nature and extent of this duty following a controversial landmark judgment from the Supreme Court of Canada in BCE Inc. v. 1976 Debentureholders. Scholarly literature has defined this as a "tripartite fiduciary duty", composed of (1) an overarching duty to the corporation, which contains two component duties — (2) a duty to protect shareholder interests from harm, and (3) a procedural duty of "fair treatment" for relevant stakeholder interests. This tripartite structure encapsulates the duty of directors to act in the "best interests of the corporation, viewed as a good corporate citizen".[15]It has always been my opinion that the Board of Directors at the WCB of Alberta are in a Conflict of Interest, this conflict exists in my opinion by the very existence of Old PC Industry Cronies that sit on the WCB Appeals Commission. If this was such a fair and open Appeals Mechanism then the WCB Appeals Commision would publish ALL of the 40+ Board Commissioners that sit on these panels. It is well known within the injured workers groups that the WCB Appeals Commissioners are old PC Hacks that A.) Need a super well paying job B.) Will rule against legitimate Appeals from workers who the board has deemed to be targeted for abuse
This Appeals Commission has been designed and set up by the corrupt corporate cronies of the past PC Government of Alberta, the very existence of people sitting on these boards who are Industry cronies and hacks sullies the entire bogus Appeals mechanism and renders the very existence of this Hack organization a sham and a farce. These kinds of sham mechanisms are what constitute the very heart of grievances that the Injured Workers of Alberta have been saying for years now.
What the WCB Board of Directors have failed miserably at acting in their Duty of Care as Fiduciaries, is that they ALSO have a DUTY to represent the single MOST important stakeholder in this organization; The Seriously Injured Worker!
By failing in their Duty of Care, and by being in a Direct Conflict of Interest because the entire Board is accepting bonuses for denying workers access to medical treatments, medical care and medications in a timely and relevant fashion. This entire organization is a complete SHAM and the WCB of Alberta Board of Directors violates every important principle of their duties as the Fiduciary Chief Executive Officers of this corporation. The entire Board of Directors is PROFITTING from increasing the Pain of Injured Workers.
This is why the Farmers are so hopping mad, they want no part of this scam operation. It is deceitful and dishonest to say that this WCB organization is helping injured workers with proper, timely and relevant treatments they need, that is a bald faced lie. When you deny injured workers the right to recover and move on with their lives, you are attacking the very heart of our economy in Alberta, the one everbody keeps saying is so fragile. Alberta does not benefit from abusing injured workers, these were skilled and experienced people who can no longer feed their families as a result of these abusive policies at the Workers Compensation Board of Alberta.
I have to rest. More to come.
