BUS2 365 Lecture Notes - Lecture 15: Three-Cushion Billiards, Supermajority, Casebook
5 Mar 2018
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From general perspective of managers" fiduciaries powers to the significance of the duty of loyalty in context: alleged breach of duty of loyalty, 4 categories of cases in corp law cml, self-dealing. Fiduciary said to have entered into a k or other kind of transaction with the beneficiary/company for personal gain. Fiduciary is in position of control on both sides. Fiduciary said to have taken property belonging to corp or taken an opportunity for profit herself (converting business from corp to her own) Fiduciary said to have used her position and powers to retain her position (with a view of econ) or trying to enrich herself (diverting value from company) i. e. making compensation decisions for own benefit. Fiduciary said to have used position to make a secret profit from the corp. Beatty offered a good ship (cid:449)hi(cid:272)h (cid:449)as(cid:374)"t a(cid:448)aila(cid:271)le o(cid:374) the (cid:373)arket. Full disclosure of his interest, and board approved.
