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Full-Text Articles in Law
For-Profit Managers As Public Fiduciaries: A Neo-Classical Republican Perspective, Rob Atkinson
For-Profit Managers As Public Fiduciaries: A Neo-Classical Republican Perspective, Rob Atkinson
Scholarly Publications
This Article examines the fiduciary duties of for-profit managers in modern liberal society. To arrive at the right "mix" of these duties, it compares the fiduciary duties implied by a standard descriptive model of our society with two competing normative models: Lockean libertarianism on the "right" and neo-classical republicanism on the "left." This comparison shows that all three versions of liberalism, even the one with a Lockean nightwatchman state, require far more extensive duties than we now expect, including a professionalization of management itself. And it shows that the version of liberalism with the most expansive state, neo-classical republicanism, requires …
Directors' Duties In Failing Firms, Kelli A. Alces, Larry E. Ribstein
Directors' Duties In Failing Firms, Kelli A. Alces, Larry E. Ribstein
Scholarly Publications
Despite many cases with seemingly contrary dicta, corporate directors of failing firms do not have special duties to creditors. This follows from the nature of fiduciary duties and the business judgment rule. Under the business judgment rule, the directors have broad discretion to decide what to do and in whose interests to act. There is some authority for a limited creditor right to sue on behalf of the corporation to enforce this duty. However, any such right does not make the duty one owed to creditors. The creditors individually may sue the corporation for breach of specific contractual, tort, and …
Unlocking The Interlocks: Common Law Fiduciary Duties And The Phenomenon Of Interlocking Corporate Directorates In The Commonwealth Caribbean, Darren Skinner
Unlocking The Interlocks: Common Law Fiduciary Duties And The Phenomenon Of Interlocking Corporate Directorates In The Commonwealth Caribbean, Darren Skinner
Florida State University Journal of Transnational Law & Policy
No abstract provided.