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Full-Text Articles in Law
The Fiduciary Gap, Kelli A. Alces
Larry Ribstein's Fiduciary Duties, Kelli A. Alces
Larry Ribstein's Fiduciary Duties, Kelli A. Alces
Scholarly Publications
Larry Ribstein, throughout his remarkable scholarly career, developed a theory formed around his analysis that the end of fiduciary obligation is a near possibility. Understanding fiduciary obligations as a carefully defined term may indicate, however, that this fiduciary obligation can be a useful part of a wider selection of relationships than Ribstein allowed. This Article both considers Ribstein’s theory of fiduciary duty, and ultimately turns that same theory on its head by advocating the use of a narrow duty in a variety of contexts as opposed to a broad duty in a limited range of circumstances
Debunking The Corporate Fiduciary Myth, Kelli A. Alces
Debunking The Corporate Fiduciary Myth, Kelli A. Alces
Scholarly Publications
No abstract provided.
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 …