Sulja Bros. Building Supplies, Ltd (SLJB)

[12ring]

Steve Sulja is still CEO of SLJB. Nothing has been publically PR'd to shareholders stating otherwise, or that the company is defunct, either. So.....


http://en.wikipedia.org/wiki/Corporate_law



"Directors also owe strict duties not to permit any conflict of interest or conflict with their duty to act in the best interests of the company. This rule is so strictly enforced that, even where the conflict of interest or conflict of duty is purely hypothetical, the directors can be forced to disgorge all personal gains arising from it."



http://en.wikipedia.org/wiki/Conflict_of_interest



"A director or executive of a corporation will be subject to legal liability if a conflict of interest breaches their Duty of Loyalty. "



http://en.wikipedia.org/wiki/Duty_of_Loyalty



"Section 8.60 of Model Business Corporation Act states there is a conflict of interest when the director knows that at the time of a commitment that he or a related person is 1) a party to the transaction or 2) has a beneficial financial interest in the transaction that the interest and exercises his influence to the detriment of the corporation. "


Corporate conflict of interest may in fact not necessarily or always be a civil case either depending upon the details surrounding the said conflict. of interest.

Further definition in this case:

http://en.wikipedia.org/wiki/Self-dealing

Which leads us to this:

http://en.wikipedia.org/wiki/Misappropriation

Which BTW is a Felony.

USA and Canadian law is generally close on this issue.

Steve and his counsel already know this as it is basic law.

Next talking point........