Luis Salazar

September 08, 2006 | Corporate Counsel

In June, the Delaware Bankruptcy Court ruled that directors and officers of insolvent subsidiary companies owe fiduciary duties to both its creditors and the subsidiary itself. Before this, leading cases on this issue held that fiduciary duties were owed only to creditors and the single-shareholder, parent companies. Though the new decision stands on some firm legal ground, it is sure to create more uncertainty and doubt in the boardroom, according to Greenberg Traurig's Luis Salazar.

By Luis Salazar

7 minute read

March 25, 2005 | New York Law Journal

Luis Salazar and Allen G. Kadish of Greenberg Traurig analyze a case that calls into question the concept of direct claims against directors and officers, and firmly supports the viability of "due care" exculpation provisions.

By Luis Salazar and Allen G. Kadish

8 minute read