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DIRECTOR FIDUCIARY DUTIES: Navigating financial distress during covid-19.

Authors :
Singer, George
Stewart, Chad
Source :
Bench & Bar of Minnesota; May/Jun2020, Vol. 77 Issue 5, p30-32, 3p
Publication Year :
2020

Abstract

The article reports that directors of companies must be acutely aware of and adhere to their fiduciary duties or risk exposure to personal liability during covid-19. It mentions fiduciary duties to the company and its stakeholders such as duty of care and duty of loyalty to act in good faith. It also mentions stockholders remains true even when a company approaches the zone of insolvency and directors are protected by the business judgment rule.

Details

Language :
English
ISSN :
02761505
Volume :
77
Issue :
5
Database :
Complementary Index
Journal :
Bench & Bar of Minnesota
Publication Type :
Academic Journal
Accession number :
143567446