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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 …