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Unpublished Paper
THE FIDUCIARY DUTIES OF DIRECTORS AND OFFICERS IN INSOLVENT CORPORATIONS: A UNIFORM INTERNATIONAL STANDARD?
ExpressO (2012)
  • William H Hudson
Abstract

This Article explores the complicated field of fiduciary duties governing corporate directors and officers in companies facing or dealing with insolvency. It provides both a macro and micro level investigation into the vast differences in corporate fiduciary duties across jurisdictions. This Article provides the results of a broad and unique survey conducted across the globe to gain an accurate perspective regarding the inconsistencies facing corporate directors and officers dealing with new or emerging fiduciary duties. The findings of this survey will be presented to the International Insolvency Institute at its annual meeting in Paris, France on June 21, 2012. This research will also be considered by the United Nations Commission on International Trade Law when in proposes model rules later this year.

This article is as cutting-edge in the field of insolvency and international law as an article can get. As my article points out, there is great international inconsistency in this area of law and international corporations face uncertainty. I have proposed several rules and reforms that will lead to greater certainty in the marketplace that will allow corporations to make sensible decisions when faced with insolvency. In addition, this article explores new laws and cases governing corporate directors and officers. Indeed, companies throughout the world are seeking guidance in this area of law and soon find that ambiguity is ubiquitous. This article provides guidelines and suggestions to help corporate directors steering their company through the possibility of or actual insolvency. This article is also destined to be a compass for companies operating on an international basis.In addition, this Article provides novel suggestions to create a new international standard governing the fiduciary duties imposed on corporate directors and officers. These suggestions will provide clarity and allow corporate officers to make better decisions based on clear rules and guidelines.

Keywords
  • fiduciary duty,
  • insolvency,
  • bankruptcy
Disciplines
Publication Date
April 3, 2012
Citation Information
William H Hudson. "THE FIDUCIARY DUTIES OF DIRECTORS AND OFFICERS IN INSOLVENT CORPORATIONS: A UNIFORM INTERNATIONAL STANDARD?" ExpressO (2012)
Available at: http://works.bepress.com/william_hudson/1/