LAC MINERALS LTD. V. INTERNATIONAL CORONA RESOURCES LTD.
AbstractFiduciary relationship in commercial dealings was the expected highlight of LAC Mineral Ltd. v. International Corona Resources Limited, and many awaiting the decision were disappointed by division in the Supreme Court of Canada and the uncertainty as to the consequent outcome. Breach of confidence was why Lac lost, and compelling Lac to hand over the gold mine to Corona met Corona's "reasonable expectations". The remedy was something net. A bare majority found no fiduciary relationship on the facts, but a minority member delved into theory such a relationship exists when "reasonable expectations" of a party to dealings are not met. What the court decides as a whole on the subject of this relationship can and ought to be made clear, but in view of the recent thinking of the British Columbia Court of Appeal as to the proper applicability of the fiduciary relationship there is more debate yet to come.
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