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Full-Text Articles in Law
Fiduciary Foundations Of Administrative Law, Evan J. Criddle
Fiduciary Foundations Of Administrative Law, Evan J. Criddle
Faculty Publications
An enduring challenge for administrative law is the tension between the ideal of democratic policymaking and the ubiquity of bureaucratic discretion. This Article seeks to reframe the problem of agency discretion by outlining an interpretivist model of administrative law based on the concept of fiduciary obligation in private legal relations such as agency, trust, and corporation. Administrative law, like private fiduciary law, increasingly relies upon a tripartite framework of entrustment, residual control, and fiduciary duty to demarcate a domain of bounded agency discretion. To minimize the risk that agencies will abuse their entrusted discretion through opportunism or carelessness, administrative law …
Shareholders, Creditors, And Directors’ Fiduciary Duties: A Law And Finance Approach, Moin A. Yahya, Remus D. Valsan
Shareholders, Creditors, And Directors’ Fiduciary Duties: A Law And Finance Approach, Moin A. Yahya, Remus D. Valsan
ExpressO
The debate surrounding fiduciary duties owed to creditors by directors, especially in the vicinity of insolvency, has resurfaced in light of two court decisions in Canada and the United States. In this paper, we contribute to the discussion by looking at the issue from a corporate finance perspective, where we utilize well-established theorems and results. We show that creditors are able to protect themselves by the use of covenants. While this idea has been reported extensively in previous discussions about fiduciary duties, we focus on studies that show the extent to which creditors use covenants to protect themselves against opportunistic …