Brian N. Spector

Do Directors and Officers Owe Fiduciary Duties to Creditors?
Brian N. Spector, April 24, 2012
It is generally understood that a company's directors and officers owe fiduciary duties to its shareholders. In Arizona, they also owe them to creditors - at least once the company becomes insolvent.

LLC Compensation Classifications: Member Distributions vs. Salary: Beware of Unintended Consequences
Brian N. Spector, January 31, 2012
Those who do business through a closely-held limited liability company (LLC) often get tax advice about the advantages of receiving compensation in the form of member distributions instead of salary or guaranteed payments. They may be advised, for example, that member distributions do not require...