One of the fundamental principles of corporate law is that the owners, directors and officers of a corporate entity generally are not personally responsible for the entity’s debts. Without this insulation from personal...more
1/26/2022
/ Creditors ,
Employee Retirement Income Security Act (ERISA) ,
Family Businesses ,
Fiduciary Duty ,
Financial Statements ,
Fraudulent Conveyance ,
Insolvency ,
Loans ,
Personal Liability ,
Secured Debt ,
Shareholders ,
Trust Funds
On March 19, 2021, the Court of Appeals for the Third Circuit issued its decision in In re Orexigen Therapeutics, Inc., 2021 WL 1046485 (3rd Cir. Mar. 19, 2021), affirming lower courts’ decisions rejecting “triangular setoff”...more