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the nature of the fiduciary relationship, the justification for fiduciary duties, and the purpose of fiduciary remedies …. However, according to the author a principled theory of fiduciary liability may be derived from the common law. The focal … Galambos and developed by the author is based on the conventional notion that fiduciary liability is premised upon the …
Persistent link: https://www.econbiz.de/10013133158
As we reel from the effects of a recent financial disaster, it is apparent that there is a significant gap in corporate governance and accountability for management. One reason why we have experienced this financial cataclysm is the inability of shareholders to do the “shareholder job.”...
Persistent link: https://www.econbiz.de/10013133864
Over the last ten years, institutions such as the IMF have launched several initiatives to change market practice with respect to sovereign bond contract drafting in order to ease restructuring after defaults. The first of these, the universal adoption of collective action clauses, was embraced...
Persistent link: https://www.econbiz.de/10013134039
Persistent link: https://www.econbiz.de/10013134048
Trusts fit uneasily into any tax system. The beneficiary should be taxed on any trust income received; yet the trustee also receives income that is amenable to taxation. It would not be fair for the income to be taxed to both the beneficiary and the trustee, yet neither should the trustee escape...
Persistent link: https://www.econbiz.de/10013134175
When a company experiences financial distress, a control contest often follows. Management fights to remain in control of the company, and shareholders, creditors and others try to influence management's exercise of that control - or wrest it away. This is not a new phenomenon. The degree of...
Persistent link: https://www.econbiz.de/10013134267
Historically, there were two main fiduciary duties in corporate law, care and loyalty, and only the duty of loyalty was …, and announced a unified test for review of breaches of fiduciary duty. The law, which once seemed so straightforward … returning to a bifurcated understanding of the law of fiduciary duties. I believe that this is a mistake. The law is inherently …
Persistent link: https://www.econbiz.de/10013134451
The nature and operation of fiduciary duties is an area bedeviled by difficulties, confusion and uncertainty. This … chapter considers four puzzles which arise in relation to fiduciary duties. The four puzzles are as follows: 1. Which … fiduciary duties can be excluded by agreement? 2. When do fiduciary obligations come to an end? 3. What is the proper law to be …
Persistent link: https://www.econbiz.de/10013136664
This article considers when fiduciary duties arise. I explain that fiduciary duties are simply particular terms which … determining whether fiduciary duties arise in particular undertakings. I then examine each of the most well recognised fiduciary … duties and show how those duties are sometimes described as “fiduciary” and sometimes described as “implied terms.” …
Persistent link: https://www.econbiz.de/10013136666
two issues: to what extent should investment bankers have fiduciary duties to investors? And should there be criminal … problems that might exist in the investment banking industry. Fiduciary duties are an amorphous concept which courts and … problems with fiduciary duties would be significantly exacerbated by imposing criminal liability for their breach …
Persistent link: https://www.econbiz.de/10013139195