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Western Wind Energy Corp V.WND



TSXV:WND - Post by User

Comment by agrossfarmon Sep 18, 2012 11:19pm
193 Views
Post# 20383334

RE: Who is Brookfield supporting?

RE: Who is Brookfield supporting?

Whoever the Directors are, they have a legal fiduciary duty to ALL the shareholders to get the best deal possible. If any slate of Directors got elected and sold in a way that gave a specific buy an advantage, they would be subject to a large lawsuit and significant punitive damaged (at least in the US).

 

Any no-arms length transaction would have to be approved by Directors independent of the buyer and very possibly, by the shareholders.

 

The same fiduciary duty holds for the current Board and will still be in place if the Dissidents win the vote. 

In fact, I have seen nothing convincing that indicates either group is guaranteed to get more money.

The service provided by the Dissidents is that they forced current Management to finally get serious about selling because, if they keep control, it is Management's last chance for them to get bonuses.   

 

 

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