Monday, February 25, 2013

Fiduciaries do not always act qua fiduciary

Simkeslak Investments Limited v. Kolter Yonge LP Limited, 2013 ONCA 116 holds:

[16]       Not all actions taken by a person in a per se fiduciary relationship – that is, in a category of relationship in which a fiduciary relationship has been traditionally recognized – attract a fiduciary obligation. The presumption that in aper se fiduciary relationship one party has a duty to act in the best interests of the other is rebuttable: Hodgkinson v. Simms, [1994] 3 S.C.R. 377, paras. 31 and 124. That presumption was rebutted in this case. We do not give effect to the appellants' first ground of appeal.


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