Kelli A. Alces

Enforcing Corporate Fiduciary Duties in Bankruptcy

The conventional wisdom regarding the appropriate response to mismanagement of a bankrupt corporation holds that Chapter 11 trustees should almost never be appointed, and state law remedies and procedures governing corporate management should apply within a federal bankruptcy case. The conventional wisdom is wrong. While corporate law is the province of the states, state law remedies and procedures are not always the best means by which to regulate a