News & Analysis as of

Fiduciary Duty Fraud Creditors

Carey Olsen

Eastern Caribbean Court of Appeal delivers key ruling concerning directors' duties and creditor protection in the British Virgin...

Carey Olsen on

In the recent decision of Byers & Richardson v Chen Ningning (BVIHCMAP2024/0009) ("Byers"), the Eastern Caribbean Court of Appeal ("COA") considered the scope of the director’s duty to creditors when a company is insolvent or...more

Cooley LLP

Are You in This Party? The Scope of Section 213 of the Insolvency Act 1986

Cooley LLP on

The UK Supreme Court recently handed down a judgment in Tradition Financial Services Ltd v Bilta (UK) Ltd & Others in which it considered the scope of section 213 of the Insolvency Act 1986, specifically whether those beyond...more

Carey Olsen

Standing room only: a “person aggrieved” under s.273 of the BVI Insolvency Act 2003

Carey Olsen on

In a judgment handed down on 15 April 2025, Stevanovich v Matthew Richardson and another (as Joint Liquidators of Barrington Capital Group Ltd (in Liquidation) [2025] UKPC 18, the Judicial Committee of the Privy Council (the...more

Lowndes

Understanding Non-Dischargeable Debts Under the Bankruptcy Code: A Guide for Creditors

Lowndes on

When a debtor files for bankruptcy, creditors often fear their claims will be wiped away. However, under Section 523 of the Bankruptcy Code, certain debts are categorized as non-dischargeable, meaning the debtor cannot...more

Weintraub Tobin

Don’t Skimp On The Facts – Failure Of Fiduciaries To Make Full Disclosure Of Matters Set Forth In An Accounting May Be Considered...

Weintraub Tobin on

In the recently published case of Hudson v. Foster, 2021 Cal.App. LEXIS 737, the Court of Appeal for the Second Appellate District, Division Five, determined that a former conservatee who discovered that certain transactions...more

King & Spalding

Neiman Marcus and The Fiduciary Duties of Creditors’ Committee Members

King & Spalding on

Creditors who are members of an official committee of unsecured creditors in a bankruptcy owe fiduciary duties to other unsecured creditors and to other committee members. In this article on the Neiman Marcus bankruptcy, the...more

Fox Rothschild LLP

Hedge Fund Founder Pleads Guilty To Bankruptcy Fraud In Connection With Neiman Marcus Bankruptcy

Fox Rothschild LLP on

In many chapter 11 cases, a committee of unsecured creditors is formed early in the case to represent the overall interests of unsecured creditors. See 11 U.S.C. § 1102. Members of the committee hold a “fiduciary” obligation...more

Morris James LLP

Court Of Chancery Limits Creditor Standing

Morris James LLP on

This decision holds that a creditor lacks standing to bring breach of fiduciary duty claims arising out of the management of an LLC. Of course, creditors are better served by drafting the loan documents to protect their...more

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