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linking INTEGRITYIntegrity - use of values or principles to guide action in the situation at hand.Below are links and discussion related to the values of freedom, hope, trust, privacy, responsibility, safety, and well-being, within business and government situations arising in the areas of security, privacy, technology, corporate governance, sustainability, and CSR. Bankruptcy decision good news for boards, 30.10.04
The Globe and Mail
Boards of directors could breathe a sigh of relief yesterday as the Supreme Court of Canada ruled that directors of a bankrupt Quebec-based retail chain did not owe their allegiance to the company's creditors while it was 'in the nebulous vicinity of insolvency.'
The ruling in the case of Peoples Department Stores Inc. confirmed that directors owe their primary duty to the corporation itself, overturning a dramatic lower court ruling that directors should act in the interests of creditors when a company is financially weak.
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