Ethical Issues in Bankruptcy Cases – Part VI

by Paul W. Bonapfel,* United States Bankruptcy Judge, Northern District of Georgia

Part VI - Issues in Representation of Insolvent Corporations

The Fiduciary Duty to Creditors

In the normal world, the various duties of a lawyer can be sorted out in traditional ways as contemplated by applicable Rules of Professional Responsibility. Consider, for example, a lawyer’s representation of a corporation and its sole shareholder in a transaction whereby the corporation is obtaining a loan to be guaranteed by the sole shareholder, or . . .

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