Privatizing Ethics in Corporate Reorganizations

58 Pages Posted: 30 Oct 2009

Date Written: 2009


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.

Suggested Citation

Dickerson, A. Mechele, Privatizing Ethics in Corporate Reorganizations (2009). Minnesota Law Review, Vol. 93, No. 875, 2009; U of Texas Law, Law and Econ Research Paper No. 156. Available at SSRN:

A. Mechele Dickerson (Contact Author)

University of Texas School of Law ( email )

727 East Dean Keeton Street
Austin, TX 78705
United States
512-232-1311 (Phone)
512-471-6988 (Fax)

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