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Privatizing Ethics in Corporate Reorganizations
A. Mechele Dickerson University of Texas School of Law Minnesota Law Review, Vol. 93, No. 875, 2009 U of Texas Law, Law and Econ Research Paper No. 156 Abstract: This Article highlights the increased presence and influence of managers who are hired as a result of creditor demands - that is, privatized trustees. These creditor-controlled private trustee increasingly are performing duties and holding roles traditionally associated with a public, statutorily authorized trustee. This Article considers how ethical and fiduciary duties should be constructed and then imposed on the people who control firms in bankruptcy. The Article ultimately concludes that privatized trustees should have the same ethical obligations and duties in bankruptcy cases as the duties the Bankruptcy Code imposes on public, statutorily authorized trustees. Accepted Paper Series Date posted: October 30, 2009 ; Last revised: November 06, 2009Suggested CitationContact Information
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