Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 3 of 3
Full-Text Articles in Law
To Be, Rather Than To Seem: Analysis Of Trustee Fiduciary Duty In Reorganization And Its Implications On The New Chinese Bankruptcy Law, Xiao-Chuan Charlie Weng
To Be, Rather Than To Seem: Analysis Of Trustee Fiduciary Duty In Reorganization And Its Implications On The New Chinese Bankruptcy Law, Xiao-Chuan Charlie Weng
Xiao-chuan Charlie Weng
Reorganization trustees play a crucial role in bankruptcy procedure. The trustees try to resurrect deteriorating businesses by managing remaining resources for the benefit of beneficiaries, usually unsecured creditors and shareholders. More or less, a trustee’s role is similar to that of the officers/managers of a solvent company. Fiduciary duty arises between the residual claimers, the stakeholders on the one hand, and the operator, the trustee on the other hand. Astonishingly, under current U.S. bankruptcy law, reorganization trustee’s fiduciary duty is not well defined, although this duty has been widely litigated. The vagueness is primarily due to misinterpretation of the Mosser …
To Be, Rather Than To Seem: Analysis Of Trustee Fiduciary Duty In Reorganization And Its Implications On The New Chinese Bankruptcy Law, Xiao-Chuan Charlie Weng
To Be, Rather Than To Seem: Analysis Of Trustee Fiduciary Duty In Reorganization And Its Implications On The New Chinese Bankruptcy Law, Xiao-Chuan Charlie Weng
Xiao-chuan Charlie Weng
Reorganization trustees play a crucial role in bankruptcy procedure. The trustees try to resurrect deteriorating businesses by managing remaining resources for the benefit of beneficiaries, usually unsecured creditors and shareholders. More or less, a trustee’s role is similar to that of the officers/managers of a solvent company. Fiduciary duty arises between the residual claimers, the stakeholders on the one hand, and the operator, the trustee on the other hand. Astonishingly, under current U.S. bankruptcy law, reorganization trustee’s fiduciary duty is not well defined, although this duty has been widely litigated. The vagueness is primarily due to misinterpretation of the Mosser …
Assessing The Applicability Of The Business Judgment Rule And The “Defensive” Business Judgment Rule In The Chinese Judiciary: A Perspective On Takeover Dispute Adjudication, Xiao-Chuan Charlie Weng
Assessing The Applicability Of The Business Judgment Rule And The “Defensive” Business Judgment Rule In The Chinese Judiciary: A Perspective On Takeover Dispute Adjudication, Xiao-Chuan Charlie Weng
Xiao-chuan Charlie Weng
With the surge of takeovers in China, many issues regarding takeover adjudication and legislation have increasingly received academic attention. The issues of the independence and professionalization of the judiciary and the scarcity of legislation on duty of care are the major predicaments facing corporate China. Massive legislative and judicial reform of takeover adjudication is not viable in the near future. However, U.S. common law standards of review, including the business judgment rule and serial rules against hostile takeover, with diacritical the business judgment rule stamp, may hold potential for reform within the current economic environment. The article investigates the problems …