• Recent Trends in Delaware Courts Clarifying Directors' and Officers' Fiduciary Duties
  • November 13, 2007
  • Law Firm: Winston & Strawn LLP - Chicago Office
  • To recover assets dissipated by financially distressed companies, creditors have traditionally relied on statutes that permit courts to set aside fraudulent transfers, preferences, and improper dividends. Courts also have probed directors' and officers' exercise of business judgment for potential breaches of fiduciary duty to an insolvent company or its creditor body.