Court of Appeal Clarifies Applications for Advance Funding and Director Indemnity Requests
On July 4, 2013, the Court of Appeal released its ruling in Cytrynbaum v. Look Communications Inc. clarifying the law pertaining to requests by directors and officers for advance funding and indemnities and section . 124(4) of the Canada Business Corporations Act. A copy of the ruling can be found at Cytrynbaum v. Look Communications Inc.