IF DAVID SIDOO, NICK DEMARE, DYLAN SIDOO ETC. COMMIT FRAUD -When are Directors and Officers of a Corporation held Personally Liable? There are certain circumstances where the courts will "look behind" or "lift the corporate veil" to find individuals responsible for bad company acts.
If David Sidoo, Nick DeMare, Dylan Sidoo, etc. commit securities fraud, mail fraud, wire fraud or other intentional bad acts to enrich themselves to the detriment of the minority shareholders, we shall pierce the Corporate Veil of East West Petroleum Corp.
"In 642947 Ontario Ltd. v. Fleischer" the Court decision held that ... Typically, the corporate veil is pierced when the company is incorporated for an illegal, fraudulent or improper purpose. But it can also be pierced if when incorporated "those in control expressly direct a wrongful thing to be done": Clarkson Co. v. Zhelka at p. 578. Sharpe J. set out a useful statement of the guiding principle in Transamerica Life Insurance Co. of Canada v. Canada Life Assurance Co. (1996), 1996 CanLII7979 (ON SC) ,: "the courts will disregard the separate legal personality of a corporate entity where it is completely dominated and controlled and being used as a shield for fraudulent or improper conduct."
Pursuant to Rule 26.01 of the Rules of Civil Procedure, amendments to a civil pleading shall be granted except in the "clearest of cases, where it is plain and obvious that no tenable cause of action is possible on the facts as alleged."